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Recent 52-Week High Exceeded in Shares of MarketAxess Holdings (MKTX)

By James Quinn

Shares of MarketAxess Holdings (NASDAQ:MKTX) traded at a new 52-week high today of $172.76. This new high was reached on below average trading volume as 58,000 shares traded hands, while the average 30-day volume is approximately 231,000 shares.

MarketAxess Holdings, Inc. operates an electronic, multi-dealer to client platform for U.S. and European high-grade corporate and emerging markets bond trading. The Company's technology delivers price discovery and trade execution services to institutional and broker-dealer clients.

In the past 52 weeks, MarketAxess Holdings share prices have been bracketed by a low of $27.90 and a high of $172.76 and are now at $169.18, 506% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

MarketAxess Holdings (NASDAQ:MKTX) is currently priced 43.5% above its average consensus analyst price target of $95.60. The stock should discover initial support at its 50-day moving average (MA) of $123.76 and subsequent support at its 200-day MA of $107.17.

SmarTrend recommended that subscribers consider buying shares of MarketAxess Holdings on May 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $126.85. Since that recommendation, shares of MarketAxess Holdings have risen 36.0%. We continue to monitor MKTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows marketaxess holdings

Ticker(s): MKTX