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Flowserve Corp: New 52-Week Low Set Today (FLS)

By Amy Schwartz

Shares of Flowserve Corp (NYSE:FLS) traded at a new 52-week low today of $38.27. This new low was reached on below average trading volume as 120,000 shares traded hands, while the average 30-day volume is approximately 1.3 million shares.

Flowserve Corp (NYSE:FLS) has potential upside of 32.4% based on a current price of $38.57 and analysts' consensus price target of $51.06. Flowserve Corp shares should first meet resistance at the 200-day moving average (MA) of $43.50 and find additional resistance at the 50-day MA of $44.76.

Flowserve Corp share prices have moved between a 52-week high of $52.10 and the current low of $38.27 and are currently at $38.57 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment throughout the world. The Company provides pumps, valves, and mechanical seals primarily for the refinery and pipeline segments of the petroleum, chemical processing, power generation, and water treatment industries.

SmarTrend recommended that its subscribers protect gains by selling shares of Flowserve Corp on May 26th, 2017 by issuing a Downtrend alert when the shares were trading at $47.86. Since that call, shares of Flowserve Corp have fallen 19.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows flowserve corp

Ticker(s): FLS