user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 464177 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

Seagate Technology Bearish Moving Average Crossover Alert (STX)

Published on Thu, 03/21/2013 - 11:12
By Adrienne Chilton

Today, shares of Seagate Technology (NASDAQ:STX) have fallen below their 10-day MA of $34.62 on a volume of 1.1 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Seagate Technology designs, manufactures, and markets rigid disc drives for enterprise, personal computer, and consumer electronics applications.

Over the past year, Seagate Technology has traded in a range of $21.62 to $37.94 and is now at $34.28, 59% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.6%.

Seagate Technology has overhead space with shares priced $34.28, or 1.7% below the average consensus analyst price target of $34.88. The stock should find initial support at its 50-day moving average (MA) of $34.07 and further support at its 200-day MA of $29.95.

By Adrienne Chilton