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Recent 52-Week High Exceeded in Shares of Meritor Inc (MTOR)

By Nick Russo

Meritor Inc (NYSE:MTOR) traded today at a new 52-week high of $19.85. Approximately 97,000 shares have changed hands today, as compared to an average 30-day volume of 807,000 shares.

Meritor, Inc. manufactures automobile components for military suppliers, trucks, trailers, and specialty vehicles. The Company also offers related replacement parts in the transportation and industrial sectors. Meritor offers products including axles, drivelines, braking systems, and suspension systems.

Meritor Inc (NYSE:MTOR) is currently priced 6.2% above its average consensus analyst price target of $18.62. The stock should discover initial support at its 200-day moving average (MA) of $9.64 and subsequent support at its 50-day MA of $7.94.

Over the past year, Meritor Inc has traded in a range of $6.30 to $19.85 and is now at $19.85, 215% above that low. The 200-day and 50-day moving averages have moved 1.12% lower and 0.53% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Meritor Inc on July 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.85. Since that recommendation, shares of Meritor Inc have risen 16.8%. We continue to monitor MTOR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows meritor inc

Ticker(s): MTOR