Cirrus Logic, Inc., a fabless semiconductor company, develops signal
processing integrated circuits (ICs) for audio and energy markets. The
company's audio products include amplifiers, codecs, converters, and
audio DSPs for applications, such as smartphones, tablets, home theater
equipment, automotive entertainment systems, and professional audio
gear. It also provides controllers for LED lighting products, as well as
high-precision analog and mixed-signal products for energy measurement
and energy exploration applications. The company sells its products
through direct sales force, external sales representatives, and
distributors. Cirrus Logic, Inc. was founded in 1984 and is
headquartered in Austin, Texas.
Before discussing potential trading opportunities, please take a look
at the 1-year chart of CRUS (Cirrus Logic, Inc.) below with my added
notations:
During the entire year CRUS has shown $25 to be a key level to the
stock, specifically as support (green) since the end of April. CRUS has
been steadily moving lower since September even though the overall
market has been moving higher. Earlier this week the stock broke that
$25 support, which shouldn't be a surprise considering the recent trend
lower.
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