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Recent 52-Week High Exceeded in Shares of Ritchie Bros Auctioneers (RBA)

By David Diaz

Shares of Ritchie Bros Auctioneers (NYSE:RBA) traded today at $36.79, breaking its 52-week high. This new high was reached on above average trading volume as 792,000 shares traded hands, while the average 30-day volume is approximately 461,000 shares.

Ritchie Bros Auctioneers (NYSE:RBA) is currently priced 16.2% above its average consensus analyst price target of $30.14. The stock should discover initial support at its 50-day moving average (MA) of $26.67 and subsequent support at its 200-day MA of $25.77.

Ritchie Bros. Auctioneers Incorporated auctions industrial equipment, operating through various locations around the world. The Company sells, through unreserved public auctions, used and unused industrial equipment, including equipment used in the construction, transportation, mining, forestry, petroleum, and agricultural industries.

Ritchie Bros Auctioneers share prices have moved between a 52-week high of $36.79 and a 52-week low of $21.03 and are now trading 71% above that low price at $35.95 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.8%.

SmarTrend is monitoring the recent change of momentum in Ritchie Bros Auctioneers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ritchie Bros Auctioneers in search of a potential trend change.

Keywords: 52 week high/lows ritchie bros auctioneers

Ticker(s): RBA