TMCnet News
Downgrade Alert for Spreadtrum Communications (SPRD)Nov 09, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Spreadtrum Communications (NASDAQ:SPRD) was downgraded from Buy to Hold at Canaccord Genuity today. The stock closed yesterday at $21.33 on volume of 2.3 million shares, above average daily volume of 578,000. Spreadtrum Communications (NASDAQ:SPRD) defies analysts with a current price ($21.33) 2.9% above its average consensus price target of $20.72. Spreadtrum Communications shares have support at the 50-day moving average (MA) of $20.66 and additional support at the 200-day MA of $17.74. In the past 52 weeks, Spreadtrum Communications share prices have been bracketed by a low of $12.63 and a high of $29.98 and closed yesterday at $21.33, 69% above that low price. The 200-day and 50-day moving averages have moved 0.53% higher and 0.88% higher over the past week, respectively. Spreadtrum Communications, Inc. is a fabless semiconductor company that designs, develops, and markets baseband processor solutions for the wireless communications market. SmarTrend recommended that subscribers consider buying shares of Spreadtrum Communications on May 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.88. Since that recommendation, shares of Spreadtrum Communications have risen 19.3%. We continue to monitor SPRD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. 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 |