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Recent 52-Week High Exceeded in Shares of Steven Madden (SHOO)

By Amy Schwartz

Steven Madden (NASDAQ:SHOO) traded today at a new 52-week high of $42.35. Approximately 138,000 shares have changed hands today, as compared to an average 30-day volume of 519,000 shares.

Steven Madden, Ltd. designs and markets fashion footwear for women. The Company's shoes are sold through Steve Madden retail stores, department stores, apparel and footwear specialty stores, and online. Steven Madden has licensees, including sportswear and jeans, outerwear, intimate apparel, eyewear, hosiery, and jewelry, and owns and operates a retail store under its David Aaron brand.

Over the past year, Steven Madden has traded in a range of $32.14 to $42.35 and is now at $40.91, 27% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Steven Madden (NASDAQ:SHOO) has potential upside of 1.8% based on a current price of $40.91 and analysts' consensus price target of $41.67. The stock should discover initial support at its 50-day moving average (MA) of $35.94 and subsequent support at its 200-day MA of $35.25.

SmarTrend recommended that subscribers consider buying shares of Steven Madden on April 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.38. Since that recommendation, shares of Steven Madden have risen 6.8%. We continue to monitor SHOO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows steven madden

Ticker(s): SHOO