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Applied Optoelec: The Losing Streak Continues (AAOI)

By David Diaz

Applied Optoelec (NASDAQ:AAOI) traded at a new 52-week low today of $9.55. This new low was reached on below average trading volume as 139,000 shares traded hands, while the average 30-day volume is approximately 676,000 shares.

Applied Optoelectronics, Inc. designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment.

In the past 52 weeks, Applied Optoelec share prices have been bracketed by a current low of $9.55 and a high of $50.30 and are now at $9.55. Over the past week, the 200-day moving average (MA) has gone down 2.6% while the 50-day MA has declined 2.2%.

Potential upside of 255.4% exists for Applied Optoelec, based on a current level of $9.55 and analysts' average consensus price target of $33.94. The stock should run into initial resistance at its 50-day moving average (MA) of $12.44 and subsequent resistance at its 200-day MA of $20.91.

SmarTrend recommended that its subscribers protect gains by selling shares of Applied Optoelec on February 22nd, 2019 by issuing a Downtrend alert when the shares were trading at $14.20. Since that call, shares of Applied Optoelec have fallen 31.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows applied optoelec

Ticker(s): AAOI