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CardioNet Looks to Continue to Trade Above its Annual-High Share Price Today

By Nick Russo

Shares of CardioNet (NASDAQ:BEAT) traded today at $20.05, breaking its 52-week high. So far today approximately 57,000 shares have been exchanged, as compared to an average 30-day volume of 192,000 shares.

In the past 52 weeks, shares of CardioNet have traded between a low of $7.86 and a high of $20.05 and are now at $19.16, which is 144% 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 $19.16, CardioNet is currently 7.8% above its average consensus analyst price target of $17.67. The stock should find initial support at its 50-day moving average (MA) of $12.44 and further support at its 200-day MA of $12.39.

SmarTrend is monitoring the recent change of momentum in CardioNet. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of CardioNet in search of a potential trend change.

Keywords: 52 week high/lows cardionet

Ticker(s): BEAT