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Carbonite: 52-Week High Recently Eclipsed (CARB)

By Shiri Gupta

Carbonite (NASDAQ:CARB) traded at a new 52-week high today of $16.54. This new high was reached on above average trading volume as 156,000 shares traded hands, while the average 30-day volume is approximately 81,000 shares.

Carbonite Inc. is a computer service company. The Company services its clients with computer software to retrieve files if lost on the internet.

Based on a current price of $16.46, Carbonite is currently 23.1% above its average consensus analyst price target of $12.67. The stock should discover initial support at its 200-day moving average (MA) of $9.59 and subsequent support at its 50-day MA of $7.86.

Carbonite share prices have moved between a 52-week high of $16.54 and a 52-week low of $6.50 and are now trading 153% above that low price at $16.46 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.7%.

SmarTrend recommended that subscribers consider buying shares of Carbonite on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.08. Since that recommendation, shares of Carbonite have risen 99.3%. We continue to monitor CARB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows carbonite

Ticker(s): CARB