Silicon Laboratories : USD 49.9 as next target price

02/13/2013 | 09:25am Opinion : Bullish above 42.7 USD Target price : 49.9 USD Stop loss: 40.5 USD

NASDAQ Semiconductors

The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the consensus recently revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the USD 49.9 long term resistance.

A new bullish fluctuation could lead the security toward the USD 49.9 resistance. In consequence, investors can take a long position in Silicon Laboratories. A stop loss will be set under the short term support at USD 42.7.

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