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Shares of CardioNet Rise Above Previous 52-Week High

By Shiri Gupta

CardioNet (NASDAQ:BEAT) traded at a new 52-week high today of $18.10. So far today approximately 102,000 shares have been exchanged, as compared to an average 30-day volume of 192,000 shares.

CardioNet, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual's health. The Company's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders.

CardioNet (NASDAQ:BEAT) is currently priced 0.8% above its average consensus analyst price target of $17.67. The stock should find initial support at its 50-day moving average (MA) of $12.44 and further support at its 200-day MA of $12.39.

Over the past year, CardioNet has traded in a range of $7.86 to $18.10 and is now at $17.81, 127% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 2.4%.

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

Keywords: 52 week high/lows cardionet

Ticker(s): BEAT