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Watch for Continued Losses in Shares of Applied Optoelec (AAOI)

By Nick Russo

Applied Optoelec (NASDAQ:AAOI) traded today at a new 52-week low of $20.76. So far today approximately 236,000 shares have been exchanged, as compared to an average 30-day volume of 1.5 million shares.

Applied Optoelectronics Inc. manufactures advanced optical semiconductor devices. The Company designs and produces diode lasers, photodiodes, transceivers, photodetectors, analog lasers, and optical subsystems. Applied Optoelectronics caters to the fiber optic communication, telecommunication, satellite broadcast, and wireless sectors.

Applied Optoelec has overhead space with shares priced $21.20, or 37.5% below the average consensus analyst price target of $33.94. Applied Optoelec shares should first meet resistance at the 50-day moving average (MA) of $34.87 and find additional resistance at the 200-day MA of $34.91.

Applied Optoelec share prices have moved between a 52-week high of $62.30 and the current low of $20.76 and are currently at $21.20 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 2.7%.

SmarTrend is tracking the current trend status for Applied Optoelec and will alert subscribers who have AAOI in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows applied optoelec

Ticker(s): AAOI