Analog Devices, Inc. or ADI of the NYSE, which is an American multinational semiconductor company specializing in data conversion and signal conditioning technology, could be preparing for a break above the 6-year resistance line of the downtrend as it consolidates in that area. If the trend breaks, the shares of ADI could head to the $33.60 resistance in the short term.It could even reach $36.35 once $33.60 gets cleared. But let’s be practical here, as long as the downtrend stay, we could assume that the price of the ADI would continue to weaken over the long term. The trend is your friend, remember? A failure to break the downtrend resistance, therefore, could send it down to the $26.28 support. If the price slips below $26.28, a drop to $23.23 could easily take place.
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