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Recent 52-Week High Exceeded in Shares of Beacon Roofing Supply (BECN)

By Nick Russo

Beacon Roofing Supply (NASDAQ:BECN) traded at a new 52-week high today of $47.48. Approximately 168,000 shares have changed hands today, as compared to an average 30-day volume of 511,000 shares.

Potential upside of 1.7% exists for Beacon Roofing Supply, based on a current level of $47.20 and analysts' average consensus price target of $48.00. Beacon Roofing Supply shares have support at the 50-day moving average (MA) of $41.15 and additional support at the 200-day MA of $37.96.

In the past 52 weeks, Beacon Roofing Supply share prices have been bracketed by a low of $29.44 and a high of $47.48 and are now at $47.20, 60% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.8%.

Beacon Roofing Supply, Inc. distributes residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials, including siding, windows, specialty lumber products, and waterproofing systems, for residential and non-residential building exteriors.

SmarTrend recommended that subscribers consider buying shares of Beacon Roofing Supply on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.21. Since that recommendation, shares of Beacon Roofing Supply have risen 28.7%. We continue to monitor BECN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows beacon roofing supply

Ticker(s): BECN