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Shares of EZchip Semiconductor Are Moving Lower on 30.0x Above-Average Volume (EZCH)

Published on Wed, 02/13/2013 - 14:09
By Mallory Stone

The price of EZchip Semiconductor shares has slipped to $25.31 (a 21.5% change) on heavy trading volume. Approximately 6.8 million shares have changed hands today vs. average 30-day volume of 228,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

In the past 52 weeks, shares of EZchip Semiconductor have traded between the current low of $24.00 and a high of $46.79 and are now at $25.31. The 200-day and 50-day moving averages have moved 0.38% lower and 1.18% lower over the past week, respectively.

EZchip Semiconductor Ltd. is a fabless semiconductor company that develops Ethernet network processors.

EZchip Semiconductor (NASDAQ:EZCH) has potential upside of 57.6% based on a current price of $25.31 and analysts' consensus price target of $39.89. The stock should find initial resistance at its 50-day moving average (MA) of $34.07 and further resistance at its 200-day MA of $34.97.

By Mallory Stone
mstone@fnno.com

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