Cirrus Logic, Inc. (NASDAQ: CRUS)

Cirrus Logic, Inc., a fabless semiconductor company, develops analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers audio products, including analog-to-digital converters (ADCs), digital-to-analog converters (DACs), codecs, digital interface ICs, volume controls, adaptive noise cancelling circuits, and amplifiers, as well as audio digital signal processors. Its audio products are used in various consumer applications comprising portable media players, smartphones, tablets, laptops, audio/video receivers, portable media players and speakers, home theater systems, set-top boxes, headsets and headphones, and digital camcorders and televisions.
Take a look at the 1-year chart of Cirrus (Nasdaq: CRUS) with the added notations:

Over the last year CRUS has been up, down, back up again, and since the beginning of June the stock has created a key level of support at $22 (green). The stock finally broke that support yesterday. The stock should be moving overall lower, at least down to the next level of $21 (red). A break of $21 most likely means a fall back down to $19 (blue).

The Tale of the Tape: CRUS had a key level of support at $22. Now that the stock has broken support, a trader might want to enter a short trade at or near the $22, with a stop placed above the level of entry. A break back above $22 could negate the forecast for a move lower.
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