Orbotech: The Winning Streak Continues (ORBK)
Orbotech (NASDAQ:ORBK) traded today at a new 52-week high of $28.69. This new high was reached on below average trading volume as 54,000 shares traded hands, while the average 30-day volume is approximately 256,000 shares.
Orbotech, Ltd. designs, develops, manufactures, markets, and services automated optical inspection systems and imaging solutions. The Company also markets computer aided manufacturing solutions. Orbotech has a network of marketing, sales, and customer support teams located throughout North America, Europe, Japan, and the Pacific Rim.
Based on a current price of $28.63, Orbotech is currently 16.2% above its average consensus analyst price target of $24.00. The stock should find initial support at its 50-day moving average (MA) of $23.75 and further support at its 200-day MA of $19.89.
Orbotech share prices have moved between a 52-week high of $28.69 and a 52-week low of $13.82 and are now trading 107% above that low price at $28.63 per share. The 200-day and 50-day moving averages have moved 0.58% higher and 1.04% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Orbotech on February 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.64. Since that recommendation, shares of Orbotech have risen 31.3%. We continue to monitor ORBK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows orbotech