Sanmina-SCI Bullish Moving Average Crossover Alert (SANM)

Published on Thu, 03/12/2015 - 12:14
By Adrienne Chilton in Moving average crossovers, SANM, moving crosses, nasdaq:sanm, sanmina-sci

Today, shares of Sanmina-SCI (NASDAQ:SANM) have crossed bullishly above their 10-day moving average of $22.65 on a volume of 190K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

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.

Sanmina-SCI (NASDAQ:SANM) has potential upside of 11.1% based on a current price of $23.02 and analysts' consensus price target of $25.57. The stock should discover initial support at its 200-day moving average (MA) of $22.78 and subsequent support at its 50-day MA of $22.64.

In the past 52 weeks, Sanmina-SCI share prices have been bracketed by a low of $16.35 and a high of $26.08 and are now at $23.02, 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

By Adrienne Chilton
achilton@fnno.com

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