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Flowserve Corp: The Winning Streak Continues (FLS)

By Shiri Gupta

Flowserve Corp (NYSE:FLS) traded today at a new 52-week high of $54.94. Approximately 207,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

In the past 52 weeks, shares of Flowserve Corp have traded between a low of $37.71 and a high of $54.94 and are now at $54.23, which is 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.5%.

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.

Flowserve Corp (NYSE:FLS) defies analysts with a current price ($54.23) 16.3% above its average consensus price target of $45.42. The stock should find initial support at its 50-day moving average (MA) of $46.97 and further support at its 200-day MA of $44.16.

SmarTrend recommended that subscribers consider buying shares of Flowserve Corp on July 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.11. Since that recommendation, shares of Flowserve Corp have risen 23.6%. We continue to monitor FLS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows flowserve corp

Ticker(s): FLS