Avnet, Inc. distributes electronic components, enterprise computer
and storage products, IT solutions and services, and embedded subsystems
in the Americas, Europe, the Middle East, Africa, and the Asia/Pacific.
It operates through two segments, Electronics Marketing (EM) and
Technology Solutions (TS). The EM segment markets and sells
semiconductors; interconnect, passive, and electromechanical devices;
and embedded products for the electronic component manufacturers, as
well as offers an array of value-added services that enable customers to
evaluate, design-in, and procure electronic components throughout the
lifecycle of their technology products and systems. The TS segment
distributes enterprise computing servers and systems, software, storage,
services, and complex solutions; and provides hard disk drives,
microprocessors, motherboards, and DRAM module technologies to
manufacturers of general-purpose computers and system builders.
Take a look at the 1-year chart of Avnet (NYSE: AVT) below with my added notations:
Other than the steep drop in September and October, AVT has been
trending primarily sideways over the last year. During that time stock
has created an obvious resistance level at $45 (red). A break above that
$45 level should mean higher prices for the stock.
The Tale of the Tape: AVT has a key level of
resistance at $45. A long trade could be entered on a break through that
level. However, if you are bearish on the stock, a short trade could be
made on any rallies up to $45.
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