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CardioNet: 52-Week High Recently Eclipsed (BEAT)

By David Diaz

Shares of CardioNet (NASDAQ:BEAT) traded today at $33.00, breaking its 52-week high. This new high was reached on below average trading volume as 97,000 shares traded hands, while the average 30-day volume is approximately 192,000 shares.

In the past 52 weeks, shares of CardioNet have traded between a low of $7.86 and a high of $33.00 and are now at $32.80, which is 317% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 2.4%.

CardioNet, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual's health. The Company's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders.

Based on a current price of $32.80, CardioNet is currently 5.5% above its average consensus analyst price target of $31.00. CardioNet shares have support at the 50-day moving average (MA) of $12.44 and additional support at the 200-day MA of $12.39.

SmarTrend recommended that subscribers consider buying shares of CardioNet on November 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.85. Since that recommendation, shares of CardioNet have risen 72.7%. We continue to monitor BEAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows cardionet

Ticker(s): BEAT