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Harris: The Winning Streak Continues (HRS)

By David Diaz

Shares of Harris (NYSE:HRS) traded at a new 52-week high today of $92.47. This new high was reached on below average trading volume as 103,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.

Harris has overhead space with shares priced $92.23, or 3.5% below the average consensus analyst price target of $95.57. The stock should find initial support at its 200-day moving average (MA) of $79.36 and further support at its 50-day MA of $78.33.

Harris Corporation is an international communications equipment company focused on product, system, and service solutions. The Company provides a range of mission critical communications products, systems and services for global markets, including defense communications and electronics, government communications, broadcast communications and wireless transmission network solutions.

Harris share prices have moved between a 52-week high of $92.47 and a 52-week low of $70.10 and are now trading 32% above that low price at $92.23 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Harris on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.45. Since that recommendation, shares of Harris have risen 12.9%. We continue to monitor HRS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows harris

Ticker(s): HRS