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General Dynamics: The Winning Streak Continues (GD)

By Nick Russo

General Dynamics (NYSE:GD) traded at a new 52-week high today of $153.98. This new high was reached on below average trading volume as 180,000 shares traded hands, while the average 30-day volume is approximately 1.5 million shares.

General Dynamics Corporation is a diversified defense company. The Company offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; shipbuilding design and construction; and information systems, technologies and services.

Over the past year, General Dynamics has traded in a range of $121.61 to $153.98 and is now at $153.62, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

General Dynamics has overhead space with shares priced $153.62, or 8.7% below the average consensus analyst price target of $168.21. The stock should find initial support at its 200-day moving average (MA) of $139.32 and further support at its 50-day MA of $135.27.

SmarTrend recommended that subscribers consider buying shares of General Dynamics on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $142.07. Since that recommendation, shares of General Dynamics have risen 8.3%. We continue to monitor GD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows General Dynamics

Ticker(s): GD