Shares of Applied Micro Circuits Are Moving Higher on 1.3x Above-Average Volume (AMCC)

Published on Fri, 07/31/2015 - 14:21
By Peter Chu in Unusual volume, AMCC, applied micro circuits, nasdaq:amcc, unusual volume

Applied Micro Circuits's stock is up 2.4% to $5.95 on heavy trading volume. Approximately 1.7 million shares have changed hands today vs. average 30-day volume of 1.2 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

Over the past year, Applied Micro Circuits has traded in a range of $4.61 to $9.78 and is now at $5.95, 29% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.4%.

Applied Micro Circuits has overhead space with shares priced $5.95, or 31.7% below the average consensus analyst price target of $8.71. Applied Micro Circuits shares should first meet resistance at the 200-day moving average (MA) of $5.97 and find additional resistance at the 50-day MA of $6.60.

Applied Micro Circuits Corporation designs, develops, manufactures, and markets high-performance, high-bandwidth silicon solutions for the world's communications infrastructure. The Company provides products for the automated test equipment, high-speed computing, and military markets.

By Peter Chu
pchu@fnno.com

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