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

Published on Thu, 01/31/2013 - 14:18
By Adrienne Chilton

Applied Micro Circuits's stock is up 0.7% to $8.72 on heavy trading volume. About 825,000 shares have been traded today, as compared to the 30-day average volume of 605,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Applied Micro Circuits share prices have moved between a 52-week high of $9.64 and a 52-week low of $4.28 and are now trading 104% above that low price at $8.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has risen 0.6%.

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.

Applied Micro Circuits (NASDAQ:AMCC) has potential upside of 22.4% based on a current price of $8.72 and analysts' consensus price target of $10.67. The stock should discover initial support at its 50-day moving average (MA) of $8.08 and subsequent support at its 200-day MA of $6.12.

By Adrienne Chilton
achilton@fnno.com

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