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Shares of Advanced Semiconductor Fall to a New 52-Week Low

By James Quinn

Shares of Advanced Semiconductor (NYSE:ASX) traded today at $4.45, breaking its 52-week low. So far today approximately 126,000 shares have been exchanged, as compared to an average 30-day volume of 1.6 million shares.

Advanced Semiconductor (NYSE:ASX) has potential upside of 43.4% based on a current price of $4.50 and analysts' consensus price target of $6.45. Advanced Semiconductor shares should first meet resistance at the 200-day moving average (MA) of $5.43 and find additional resistance at the 50-day MA of $5.55.

In the past 52 weeks, shares of Advanced Semiconductor have traded between the current low of $4.45 and a high of $7.26 and are now at $4.50. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1%.

Advanced Semiconductor Engineering Inc. manufactures and markets integrated circuit packages for computer and industrial applications. The Company also produces notebook computers. Advanced Semiconductor sells its products in Taiwan and exports to North America, Asia, and Europe.

SmarTrend recommended that its subscribers protect gains by selling shares of Advanced Semiconductor on April 27th, 2016 by issuing a Downtrend alert when the shares were trading at $5.20. Since that call, shares of Advanced Semiconductor have fallen 12.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows advanced semiconductor

Ticker(s): ASX