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Shares of AMETEK Rise to a New 52-Week High

By David Diaz

Shares of AMETEK (NYSE:AME) traded at a new 52-week high today of $61.00. This new high was reached on below average trading volume as 101,000 shares traded hands, while the average 30-day volume is approximately 1.5 million shares.

AMETEK (NYSE:AME) defies analysts with a current price ($60.95) 2.5% above its average consensus price target of $59.43. The stock should discover initial support at its 200-day moving average (MA) of $51.70 and subsequent support at its 50-day MA of $49.13.

AMETEK, Inc. manufactures electrical motors and electronic instruments. The Company produces air-moving electric motors and blowers for vacuums and other floor-care products. AMETEK also develops technical motors, specialty metals, and manufactures monitoring, sensing, calibrating, and display instrumentation for the aerospace, process, and heavy-vehicle industries.

Over the past year, AMETEK has traded in a range of $42.82 to $61.00 and is now at $60.95, 42% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of AMETEK on December 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.74. Since that recommendation, shares of AMETEK have risen 24.3%. We continue to monitor AME for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows ametek

Ticker(s): AME