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Recent 52-Week Low Surpassed in Shares of VMware (VMW)

By David Diaz

VMware (NYSE:VMW) traded at a new 52-week low today of $75.85. Approximately 792,000 shares have changed hands today, as compared to an average 30-day volume of 1.7 million shares.

VMware Inc. develops virtual infrastructure solutions. The Company's products include vManage, which manages virtual infrastructure, vPlatform, a uniform platform for information technology infrastructure, and vTools, a virtual infrastructure integration tool.

In the past 52 weeks, VMware share prices have been bracketed by a current low of $75.85 and a high of $112.89 and are now at $76.55. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.6%.

VMware (NYSE:VMW) has potential upside of 34.2% based on a current price of $76.55 and analysts' consensus price target of $102.76. The stock should run into initial resistance at its 50-day moving average (MA) of $85.77 and subsequent resistance at its 200-day MA of $95.24.

SmarTrend recommended that its subscribers protect gains by selling shares of VMware on September 5th, 2014 by issuing a Downtrend alert when the shares were trading at $95.95. Since that call, shares of VMware have fallen 20.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows VMware

Ticker(s): VMW