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Shares of Bgc Partners-A Has Fallen Below Previous 52-Week Low

By Shiri Gupta

Bgc Partners-A (NASDAQ:BGCP) traded today at a new 52-week low of $4.82. This new low was reached on below average trading volume as 645,000 shares traded hands, while the average 30-day volume is approximately 2.2 million shares.

BGC Partners Inc. is a global brokerage company servicing the financial and real estate markets. The Company provides a wide range of inter-dealer broker and commercial real estate services.

Over the past year, Bgc Partners-Ahas traded in a range of $4.82 to $8.26 and are now at $4.82. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.7%.

Potential upside of 245.8% exists for Bgc Partners-A, based on a current level of $4.82 and analysts' average consensus price target of $16.67. The stock should run into initial resistance at its 50-day moving average (MA) of $5.56 and subsequent resistance at its 200-day MA of $6.44.

SmarTrend recommended that its subscribers protect gains by selling shares of Bgc Partners-A on March 21st, 2019 by issuing a Downtrend alert when the shares were trading at $5.54. Since that call, shares of Bgc Partners-A have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows bgc partners-a

Ticker(s): BGCP