Thursday, February 28, 2013

Cirrus Logic, Inc. (NASDAQ: CRUS)

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:
1-year chart of CRUS (Cirrus Logic, Inc.) 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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