Boston, MA, 04/22/2014 (usastockreport) – The stock remained flat on Monday after a very volatile intraday trading. The stock managed to sustain above its intraday low of $12.71 and close at $12.90.
Fairchild Semiconductor Intl Inc. (NASDAQ:FCS) has been trading in a very volatile manner, the stock continued to lose ground during its intraday session after a substantial loss on Thursday. The stock closed flat as a result of short covering by the traders.
The stock broke out below its critical support levels of $13.05; the stock is currently trading below its 200 day moving average which is at $13.12 and fairly below its 200 day moving average which stands at $13.56.
The momentum indicators on the daily chart for Fairchild Semiconductor Intl Inc. (NASDAQ:FCS) made a sharp downward turn on Monday, this indicates a bearish trend for the stock. The relative strength index remained flat indicating a weakness in the stock.
On a broader time frame the stock gives a similar picture. The technical indicators on the weekly charts suggest the stock has been on a downward trend with very weak support levels, the stock seems to be forming a triangle pattern, this pattern which indicates a probable trend reversal in the making with a probable downtrend.
The plunge in the stock also came as a result of flat sales report that stated sales figure remaining marginally up as against the previous year’s figures.
From the current levels, the stock has a strong trend line resistance at $14.40, on the downside the stock has its first support levels at $12.42, a close below these levels could see the stock test $12.02.
Latest Buzz: Fairchild Semiconductor announced its results for the first quarter ended March 30, 2014, Sales stood at $344 million, up about 1% as against first quarter for the previous year, the company also reported a loss of $9.3 million as compared to a profit of 0.9 million in the previous year’s first quarter.