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Buyers Accumulating Shares of TTM Technologies on 1.3x Above-Average Volume (TTMI)

Published on Fri, 03/15/2013 - 13:15
By Mallory Stone

Shares of TTM Technologies are trading up 0.4% to $7.90 today on above average volume. Approximately 476,000 shares have changed hands today vs. average 30-day volume of 375,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

Potential upside of 47.7% exists for TTM Technologies, based on a current level of $7.90 and analysts' average consensus price target of $11.67. The stock should run into initial resistance at its 50-day moving average (MA) of $8.36 and subsequent resistance at its 200-day MA of $9.16.

TTM Technologies, Inc. is an independent provider of time-critical, one-stop manufacturing services for printed circuit boards. The circuit boards serve as a foundation for electronic products such as routers, switches, servers, memory modules, and cellular base stations. The Company's customers include original equipment manufacturers and electronic manufacturing services companies.

In the past 52 weeks, TTM Technologies share prices have been bracketed by a low of $7.37 and a high of $12.16 and are now at $7.90, 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.4%.

By Mallory Stone