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Glu Mobile Inc Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Glu Mobile Inc (NASDAQ:GLUU) traded today at a new 52-week high of $3.61. This new high was reached on below average trading volume as 709,000 shares traded hands, while the average 30-day volume is approximately 2.3 million shares.

Over the past year, Glu Mobile Inc has traded in a range of $1.73 to $3.61 and is now at $3.58, 107% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has declined 3.3%.

Glu Mobile Inc. develops and publishes mobile games on a global basis. The Company develops its games and related applications based on third-party licensed brands and other intellectual property, as well as on its own brands and intellectual property.

Glu Mobile Inc (NASDAQ:GLUU) is currently priced 19.9% above its average consensus analyst price target of $2.87. The stock should find initial support at its 200-day moving average (MA) of $3.53 and further support at its 50-day MA of $2.98.

SmarTrend recommended that subscribers consider buying shares of Glu Mobile Inc on March 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.32. Since that recommendation, shares of Glu Mobile Inc have risen 52.2%. We continue to monitor GLUU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows glu mobile inc

Ticker(s): GLUU