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Next Support Level for JDS Uniphase (JDSU) is $14.55

Published on Tue, 06/11/2013 - 09:59
By Peter Chu

Shares of JDS Uniphase (NASDAQ:JDSU) have bearishly opened below the pivot of $14.74 today and have reached the first support level of $14.65. Analysts will be watching for a cross of the next downside pivot targets of $14.55 and $14.36.

There is potential upside of 18.3% for shares of JDS Uniphase based on a current price of $14.61 and an average consensus analyst price target of $17.28. The stock should find initial support at its 50-day moving average (MA) of $13.44 and further support at its 200-day MA of $12.93.

JDS Uniphase Corporation provides communications test & measurement solutions and optical products for telecommunications service providers, cable operators, and network equipment manufacturers. The Company also provides optical solutions for medical/environmental instrumentation, semiconductor processing, display, brand authentication, aerospace and defense, and decorative applications.

Over the past year, JDS Uniphase has traded in a range of $8.47 to $29.12 and is now at $14.61, 72% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.3%.

By Peter Chu