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Mentor Graphics Crosses Above its 10-day MA (MENT)

Published on Thu, 02/28/2013 - 12:12
By Adrienne Chilton

Today, shares of Mentor Graphics (NASDAQ:MENT) have crossed bullishly above their 10-day moving average of $17.29 on a volume of 201K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Mentor Graphics Corporation manufactures, markets, and supports software and hardware electronic design automation products. The Company provides related services which enable engineers to design, analyze, simulate, model, implement, and verify the components of electronic systems.

Potential upside of 14.6% exists for Mentor Graphics, based on a current level of $17.45 and analysts' average consensus price target of $20.00. The stock should discover initial support at its 50-day moving average (MA) of $16.94 and subsequent support at its 200-day MA of $15.73.

In the past 52 weeks, Mentor Graphics share prices have been bracketed by a low of $8.50 and a high of $17.87 and are now at $17.45, 105% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

By Adrienne Chilton
achilton@fnno.com