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Ambarella Inc: The Losing Streak Continues (AMBA)

By David Diaz

Shares of Ambarella Inc (NASDAQ:AMBA) traded today at $42.55, breaking its 52-week low. This new low was reached on above average trading volume as 6.8 million shares traded hands, while the average 30-day volume is approximately 1.1 million shares.

Potential upside of 47.0% exists for Ambarella Inc, based on a current level of $42.75 and analysts' average consensus price target of $62.83. The stock should find resistance at its 200-day moving average (MA) of $58.88, as well as support at its 50-day MA of $42.18.

Ambarella Inc share prices have moved between a 52-week high of $74.95 and the current low of $42.55 and are currently at $42.75 per share. Over the last five market days, the 200-day moving average (MA) has gone down 2.5% while the 50-day MA has declined 1%.

Ambarella, Inc. manufactures high definition video compression and image processing semiconductors. The Company products are used in digital still cameras, camcorders, and video-enabled mobile phones.

SmarTrend is monitoring the recent change of momentum in Ambarella Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ambarella Inc in search of a potential trend change.

Keywords: 52 week high/lows ambarella inc

Ticker(s): AMBA