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Anadigics Down 15.5%, Shares Slide into the Red (ANAD)
Feb 20, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Anadigics (NASDAQ:ANAD) is one of today's worst performing low-priced stocks, down 15.5% to $2.37 on 2.0x average daily volume. Anadigics has traded 1.1 million shares thus far today, vs. average volume of 547,000 shares per day. The stock has underperformed the Dow (-15.5% to the Dow's -0.0%) and underperformed the S&P 500 (-15.5% to the S&P's -0.3%) during today's trading.
Anadigics share prices have moved between a 52-week high of $3.21 and a 52-week low of $1.05 and are now trading 125% above that low price at $2.37 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.4%.
ANADIGICS, Inc. designs and manufactures radio frequency integrated circuit solutions for the broadband and wireless communications markets. The Company's products enable manufacturers of communications equipment to enhance overall system performance, manufacturing costs, and time to market.
There is potential upside of 16.3% for shares of Anadigics based on a current price of $2.37 and an average consensus analyst price target of $2.75. The stock should hit resistance at its 50-day moving average (MA) of $2.40, as well as support at its 200-day MA of $1.74.
SmarTrend recommended that subscribers consider buying shares of Anadigics on November 28th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.61. Since that recommendation, shares of Anadigics have risen 73.9%. We continue to monitor ANAD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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