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Omnivision Technologies Crosses Above its 10-day MA (OVTI)

Published on Tue, 02/19/2013 - 12:17
By Peter Chu

Today, shares of Omnivision Technologies (NASDAQ:OVTI) have advanced above their 10-day MA of $15.75 on a volume of 398K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

OmniVision Technologies, Inc. provides integrated single chip semiconductor imaging devices. The Company designs, develops, and markets semiconductor imaging devices for computing, communications, and consumer electronics applications. OmniVision's image sensor product is used in cameras and camera related products such as personal computer, digital, and security cameras.

In the past 52 weeks, shares of Omnivision Technologies have traded between a low of $10.15 and a high of $36.78 and are now at $16.02, which is 58% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.3%.

Omnivision Technologies (NASDAQ:OVTI) has potential upside of 32.8% based on a current price of $16.02 and analysts' consensus price target of $21.28. The stock should discover initial support at its 50-day moving average (MA) of $14.92 and subsequent support at its 200-day MA of $14.72.

By Peter Chu