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Shares of Callaway Golf Co Rise to a New 52-Week High

By David Diaz

Shares of Callaway Golf Co (NYSE:ELY) traded today at $16.39, breaking its 52-week high. This new high was reached on below average trading volume as 74,000 shares traded hands, while the average 30-day volume is approximately 673,000 shares.

Potential upside of 8.9% exists for Callaway Golf Co, based on a current level of $16.38 and analysts' average consensus price target of $17.83. The stock should discover initial support at its 50-day moving average (MA) of $9.11 and subsequent support at its 200-day MA of $9.09.

Callaway Golf Company designs, develops, and markets golf clubs. The Company manufactures titanium drivers, fairway woods, irons, wedges, and various putters. Callaway serves customers both domestically and internationally.

In the past 52 weeks, shares of Callaway Golf Co have traded between a low of $9.50 and a high of $16.39 and are now at $16.38, which is 72% above that low price. The 200-day and 50-day moving averages have moved 0.16% higher and 0.69% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Callaway Golf Co on March 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.46. Since that recommendation, shares of Callaway Golf Co have risen 42.1%. We continue to monitor ELY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows callaway golf co

Ticker(s): ELY