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Shares of Abaxis Inc Has Risen Above Previous 52-Week High

By Amy Schwartz

Shares of Abaxis Inc (NASDAQ:ABAX) traded today at $82.93, breaking its 52-week high. So far today approximately 1.6 million shares have been exchanged, as compared to an average 30-day volume of 219,000 shares.

Abaxis, Inc. develops, manufactures, and markets portable blood analysis systems for use in any patient care setting. The Company's systems provide clinicians with rapid blood constituent measurements. Abaxis currently markets the vetscan for veterinary use and the piccolo for human medical use. The Company's products are sold in the United States, as well as in Europe and Japan.

Over the past year, Abaxis Inc has traded in a range of $43.57 to $82.93 and is now at $82.89, 90% 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 advanced 0.9%.

Abaxis Inc (NASDAQ:ABAX) is currently priced 23.1% above its average consensus analyst price target of $63.75. The stock should find initial support at its 200-day moving average (MA) of $47.41 and further support at its 50-day MA of $43.43.

SmarTrend is tracking the current trend status for Abaxis Inc and will alert subscribers who have ABAX in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows abaxis inc

Ticker(s): ABAX