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Recent 52-Week High Exceeded in Shares of Loews Corp (L)

By James Quinn

Loews Corp (NYSE:L) traded at a new 52-week high today of $52.44. This new high was reached on below average trading volume as 186,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

Loews Corporation is a diversified holding company. The Company, through its subsidiaries, is involved in a variety of businesses including commercial property-casualty insurance, offshore drilling, natural gas exploration and production, operation of natural gas pipeline systems, and the operation of hotels and resorts.

In the past 52 weeks, shares of Loews Corp have traded between a low of $42.06 and a high of $52.44 and are now at $52.44, which is 25% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 0.59% higher over the past week, respectively.

Loews Corp (NYSE:L) defies analysts with a current price ($52.44) 2.7% above its average consensus price target of $51.00. The stock should find initial support at its 50-day moving average (MA) of $49.23 and further support at its 200-day MA of $48.31.

SmarTrend is tracking the current trend status for Loews Corp and will alert subscribers who have L in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows Loews Corp

Ticker(s): L