Chart courtesy of stockcharts

Shares of Zoran were down on Friday more than 3% to $20.20 after analysts at Longbow Research downgrade stock to "neutral" from "buy", citing that slowing orders could hurt fourth-quarter results. Looking at the technical chart of stock, Zoran is trading in a nice Bullish momentum very near to test an important resistanceat $21.29. This news have had some impact in share price but the overall picture still Bullish as can be proved by the chart above with MACD above 0 and RSI in the Bullish territory. Stock may find some support $20 and the key resistance level still at $21.29. Keep ZRAN in your watchlist.