Volume Spike Detected in Shares of Avago Technologies as They Move Higher on 1.5x Above-Average Volume (AVGO)

Published on Thu, 01/31/2013 - 14:15
By Peter Chu in Unusual volume, AVGO, avago technologies, nasdaq:avgo, unusual volume

Shares of Avago Technologies are trading up 1.9% to $35.70 today on above average volume. About 5.0 million shares have been traded today, as compared to the 30-day average volume of 3.2 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

Avago Technologies (NASDAQ:AVGO) has potential upside of 14.2% based on a current price of $35.70 and analysts' consensus price target of $40.78. The stock should discover initial support at its 200-day moving average (MA) of $34.10 and subsequent support at its 50-day MA of $33.41.

In the past 52 weeks, shares of Avago Technologies have traded between a low of $29.70 and a high of $39.22 and are now at $35.70, which is 20% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 0.33% higher over the past week, respectively.

Avago Technologies Ltd. manufactures semiconductor products such as optoelectronics, radio-frequency and microwave components, and application-specific integrated circuits. The Company's products are used in mobile phones, consumer electronics, enterprise and telecom networking gear, optical mice, automotive electronics, and military and aerospace systems.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Quiksilver: New 52-Week Low Set Today (Z...

Quiksilver (NYSE:ZQK) traded at a new 52-week low today of $3.08. So far today approxi ...

Xerox: The Winning Streak Continues (XRX...

Xerox (NYSE:XRX) traded at a new 52-week high today of $13.38. This new high was reach ...

Watch for Continued Losses in Shares of ...

Titan International (NYSE:TWI) traded today at a new 52-week low of $13.93. Approximat ...

Take-Two Interactive Software: The Winni...

Take-Two Interactive Software (NASDAQ:TTWO) traded at a new 52-week high today of $23.6 ...

Glacier Bancorp Shares Sinking Lower, Do...

One of today's stocks on the move is Glacier Bancorp (NASDAQ:GBCI), down 1.7% to $26.56 ...

Shares of TeleNav Fall Below Previous 52...

TeleNav (NASDAQ:TNAV) traded at a new 52-week low today of $5.03. Approximately 85,000 ...

Tempur-Pedic International Makes a Move:...

Tempur-Pedic International (NYSE:TPX), a company whose shares are moving quickly, is tr ...

Recent 52-Week Low Surpassed in Shares o...

Shares of Theravance (NASDAQ:THRX) traded today at $22.01, breaking its 52-week low. A ...