TMCnet News
Upgrade Alert for Spreadtrum Communications (SPRD)Mar 04, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Spreadtrum Communications (NASDAQ:SPRD) was upgraded from Neutral to Overweight at HSBC (intra-day Friday) today. The stock closed yesterday at $17.26 on volume of 416,000 shares, below average daily volume of 791,000. Spreadtrum Communications (NASDAQ:SPRD) has potential upside of 21.5% based on a current price of $17.26 and analysts' consensus price target of $20.96. The stock should hit resistance at its 200-day moving average (MA) of $18.30, as well as support at its 50-day MA of $16.68. Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops, and markets baseband processor solutions for the wireless communications market. Spreadtrum Communications share prices have moved between a 52-week high of $23.20 and a 52-week low of $12.63 and closed yesterday at 37% above that low price at $17.26 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant. SmarTrend is tracking the current trend status for Spreadtrum Communications and will alert subscribers who have SPRD in their portfolio or watchlist when shares have changed trend direction. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |