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Recent 52-Week High Exceeded in Shares of Manhattan Assoc (MANH)

By David Diaz

Manhattan Assoc (NASDAQ:MANH) traded at a new 52-week high today of $70.41. So far today approximately 65,000 shares have been exchanged, as compared to an average 30-day volume of 423,000 shares.

Manhattan Associates, Inc. provides information technology solutions for distribution centers. The solutions are designed to enable the efficient movement of goods through the supply chain. The Company's solutions optimize the receipt, storage, and distribution of inventory, as well as manage equipment and personnel within a distribution center.

Manhattan Assoc (NASDAQ:MANH) is currently priced 29.0% above its average consensus analyst price target of $50.00. The stock should find initial support at its 50-day moving average (MA) of $63.58 and further support at its 200-day MA of $53.90.

In the past 52 weeks, Manhattan Assoc share prices have been bracketed by a low of $39.01 and a high of $70.41 and are now at $70.41, 80% above that low price. The 200-day and 50-day moving averages have moved 0.34% higher and 1.20% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Manhattan Assoc on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.10. Since that recommendation, shares of Manhattan Assoc have risen 53.1%. We continue to monitor MANH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows manhattan assoc

Ticker(s): MANH