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Sanmina-SCI Bullish Moving Average Crossover Alert (SANM)

Published on Tue, 03/19/2013 - 11:23
By Robert Cotter

Today, shares of Sanmina-SCI (NASDAQ:SANM) have advanced above their 10-day MA of $11.52 on a volume of 208K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Sanmina-SCI (NASDAQ:SANM) is currently priced 0.1% above its average consensus analyst price target of $11.69. The stock should discover initial support at its 50-day moving average (MA) of $10.71 and subsequent support at its 200-day MA of $9.17.

Sanmina-SCI share prices have moved between a 52-week high of $12.14 and a 52-week low of $6.62 and are now trading 77% above that low price at $11.70 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.3%.

Sanmina-SCI Corporation provides electronics contract manufacturing services to customers located around the world. The Company offers its customers expertise in new product introduction, manufacturing, and design and fabrication of complex interconnect products. Sanmina-SCI specializes in circuit fabrication, system assembly, integration, and high-end enclosures and cabling.

By Robert Cotter
rcotter@fnno.com