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Recent 52-Week High Exceeded in Shares of Commvault System (CVLT)

By Shiri Gupta

Shares of Commvault System (NASDAQ:CVLT) traded today at $71.90, breaking its 52-week high. This new high was reached on below average trading volume as 153,000 shares traded hands, while the average 30-day volume is approximately 434,000 shares.

Commvault System share prices have moved between a 52-week high of $71.90 and a 52-week low of $48.35 and are now trading 48% above that low price at $71.50 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

Potential upside of 4.1% exists for Commvault System, based on a current level of $71.50 and analysts' average consensus price target of $74.40. The stock should discover initial support at its 50-day moving average (MA) of $68.78 and subsequent support at its 200-day MA of $58.97.

CommVault Systems, Inc. provides data management software applications and related services. The Company develops, markets, and sells a suite of data management software applications designed to protect and manage data throughout its lifecycle.

SmarTrend recommended that subscribers consider buying shares of Commvault System on March 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.38. Since that recommendation, shares of Commvault System have risen 31.7%. We continue to monitor CVLT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows commvault system

Ticker(s): CVLT