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Shares of Carbonite Inc Fall to a New 52-Week Low

By Nick Russo

Shares of Carbonite Inc (NASDAQ:CARB) traded at a new 52-week low today of $15.39. This new low was reached on below average trading volume as 64,000 shares traded hands, while the average 30-day volume is approximately 822,000 shares.

Carbonite Inc has overhead space with shares priced $15.39, or 57.3% below the average consensus analyst price target of $36.00. The stock should run into initial resistance at its 50-day moving average (MA) of $22.51 and subsequent resistance at its 200-day MA of $25.12.

Over the past year, Carbonite Inchas traded in a range of $15.39 to $43.63 and are now at $15.39. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 2%.

Carbonite Inc. is a data protection solutions provider. The Company provides cloud and hybrid data protection solutions for businesses to ensure the data is protected, available and useful.

SmarTrend recommended that its subscribers protect gains by selling shares of Carbonite Inc on July 26th, 2019 by issuing a Downtrend alert when the shares were trading at $17.40. Since that call, shares of Carbonite Inc have fallen 11.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows carbonite inc

Ticker(s): CARB