Seagate Technology Bearish Moving Average Crossover Alert (STX)

Published on Thu, 03/21/2013 - 11:12
By Adrienne Chilton in Moving average crossovers, STX, moving crosses, nasdaq:stx, seagate technology

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
achilton@fnno.com

Latest News from FNNO

Shares of Xerox Rise Above Previous 52-W...

Shares of Xerox (NYSE:XRX) traded today at $13.29, breaking its 52-week high. So far t ...

Recent 52-Week High Exceeded in Shares o...

Shares of Weingarten Realty Investors (NYSE:WRI) traded at a new 52-week high today of ...

Shares of VCA Antech Rise to a New 52-We...

VCA Antech (NASDAQ:WOOF) traded at a new 52-week high today of $39.50. So far today ap ...

Westmoreland Coal: The Winning Streak Co...

Shares of Westmoreland Coal (AMEX:WLB) traded at a new 52-week high today of $43.45. T ...

Shares of Windstream Rise Above Previous...

Windstream (NASDAQ:WIN) traded today at a new 52-week high of $10.57. Approximately 3. ...

Titan International: The Losing Streak C...

Shares of Titan International (NYSE:TWI) traded today at $13.97, breaking its 52-week l ...

Tupperware Brands: New 52-Week Low Set T...

Shares of Tupperware Brands (NYSE:TUP) traded at a new 52-week low today of $73.72. Th ...

Watch for Continued Gains in Shares of T...

Shares of TriQuint Semiconductor (NASDAQ:TQNT) traded today at $18.50, breaking its 52- ...