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Rayonier Inc: The Winning Streak Continues (RYN)

By Nick Russo

Rayonier Inc (NYSE:RYN) traded today at a new 52-week high of $36.91. So far today approximately 105,000 shares have been exchanged, as compared to an average 30-day volume of 420,000 shares.

Rayonier Inc. is an international forestry products company. The Company produces and sells cellulosic fibers, standing timber, real estate, and timberland acreage. Rayonier also produces logs and wood products, and medium density fiberboard, as well as owns, leases, and manages timberland and provides related management services.

Based on a current price of $36.91, Rayonier Inc is currently 13.9% above its average consensus analyst price target of $31.78. The stock should discover initial support at its 50-day moving average (MA) of $23.97 and subsequent support at its 200-day MA of $22.89.

Over the past year, Rayonier Inc has traded in a range of $24.47 to $36.91 and is now at $36.91, 51% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Rayonier Inc on February 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.32. Since that recommendation, shares of Rayonier Inc have risen 10.0%. We continue to monitor RYN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows rayonier inc

Ticker(s): RYN