• Return to Headlines

Recent 52-Week High Exceeded in Shares of Sotheby's (BID)

By David Diaz

Shares of Sotheby's (NYSE:BID) traded at a new 52-week high today of $55.21. So far today approximately 52,000 shares have been exchanged, as compared to an average 30-day volume of 951,000 shares.

Sotheby's (NYSE:BID) defies analysts with a current price ($54.65) 7.8% above its average consensus price target of $50.40. The stock should find initial support at its 200-day moving average (MA) of $29.61 and further support at its 50-day MA of $26.32.

Over the past year, Sotheby's has traded in a range of $18.86 to $55.21 and is now at $54.65, 190% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 1.0%.

Sotheby's auctions fine arts, antiques, and collectibles, offering property in a wide variety of collecting categories. The Company conducts auctions in the United States and other countries. Sotheby's also purchases and resells art, brokers art, markets and brokers luxury residential real estate, provides art-related financing, and restores art.

SmarTrend recommended that subscribers consider buying shares of Sotheby's on December 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.24. Since that recommendation, shares of Sotheby's have risen 35.7%. We continue to monitor BID for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows sotheby's

Ticker(s): BID