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Universal Display Bearish Moving Average Crossover Alert (PANL)

Published on Wed, 01/30/2013 - 12:14
By Robert Cotter

Universal Display (NASDAQ:PANL) shares have crossed bearishly below their 10-day moving average of $27.84 on a volume of 262K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Universal Display Corporation is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 1,200 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and white lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Universal Display has overhead space with shares priced $27.72, or 7.6% below the average consensus analyst price target of $30.00. The stock should hit resistance at its 200-day moving average (MA) of $32.67, as well as support at its 50-day MA of $25.58.

Universal Display share prices have moved between a 52-week high of $48.07 and a 52-week low of $21.55 and are now trading 29% above that low price at $27.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.3%.

By Robert Cotter