Spreadtrum (SPRD) is a fabless semiconductor company that designs, develops and markets baseband processor, radio frequency transceiver and turnkey solutions for the wireless communications and mobile television market. This stock is trading up 10% at $22.85 in recent trading
Today's Volume: 1.4 million shares.Average Volume: 1.5 million shares Volume % Change: 88% Shares of SPRD are ripping higher today after the company said its revenue may exceed previous forecasts. Spreadtrum said in a statement today that it's on track to meet or exceed its fourth-quarter revenue forecast of $188 million to $194 million. From a technical standpoint, SPRD is starting to bounce hard right near its 200-day moving average of $19.42 today on high volume. Market players should now look for the next buy point to trigger if SPRD can sustain a high-volume move and close back above its 50-day moving average of $23.85. If we see that action, then look for this stock to re-test some near-term overhead resistance at $27.
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