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

By Nick Russo

Shares of VMware (NYSE:VMW) traded at a new 52-week low today of $51.19. So far today approximately 331,000 shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

VMware (NYSE:VMW) has potential upside of 43.0% based on a current price of $51.48 and analysts' consensus price target of $73.63. VMware shares should first meet resistance at the 50-day moving average (MA) of $58.06 and find additional resistance at the 200-day MA of $76.57.

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, shares of VMware have traded between the current low of $51.19 and a high of $93.43 and are now at $51.48. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of VMware on August 7th, 2015 by issuing a Downtrend alert when the shares were trading at $84.18. Since that call, shares of VMware have fallen 37.9%. 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