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Recent 52-Week High Exceeded in Shares of Masco (MAS)

By Nick Russo

Masco (NYSE:MAS) traded today at a new 52-week high of $35.76. Approximately 2.4 million shares have changed hands today, as compared to an average 30-day volume of 3.1 million shares.

Over the past year, Masco has traded in a range of $22.52 to $35.76 and is now at $35.61, 58% above that low. The 200-day and 50-day moving averages have moved 0.57% higher and 0.74% higher over the past week, respectively.

Masco (NYSE:MAS) defies analysts with a current price ($35.61) 14.1% above its average consensus price target of $30.59. Masco shares have support at the 50-day moving average (MA) of $30.83 and additional support at the 200-day MA of $28.06.

Masco Corporation manufactures, and sells home improvement and building products. The Company's products include faucets, kitchen and bath cabinets, architectural coatings, and builders' hardware products. Masco sells its products through mass merchandisers, home centers, hardware stores, and other wholesale and retail outlets to consumers and contractors.

SmarTrend recommended that subscribers consider buying shares of Masco on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.87. Since that recommendation, shares of Masco have risen 7.4%. We continue to monitor MAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows MASCO

Ticker(s): MAS