NEW YORK (Market Intellisearch) -- Today's trading activity suggests that the shares of SunPower Corporation may continue to head higher in the foreseeable future on the assumption that the moving average will continue to rise with the price of the equity. Savvy investors who focus on quality stocks while looking for the right opportunity to make a trade should utilize moving averages to track the trend as they smooth out volatility in price.
Shares of SunPower Corporation crossed above the 50-day moving average indicating a bullish attitude amongst investors. Shares of SPWRA are up $0.37 to $12.40 on lighter than usual volume. During the intraday session, the stock price ranged between $11.98 and $12.60. The stock's 52 week low is $9.6 and the 52 week high is $33.97.
Investor expectations change with time, and they often do so abruptly. The development of support levels is probably the most noticeable and reoccurring event on price charts and can be triggered by fundamental changes that are above or below investor's expectations. Based on the pivot points, the current support and resistance levels for SPWRA are $12.05 and $12.67 respectively. If the resistance point price is broken in an upward movement, then the bullish trend is likely to continue and vice versa.