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Shares of Covenant Trans-A Has Risen Above Previous 52-Week High

By David Diaz

Shares of Covenant Trans-A (NASDAQ:CVTI) traded today at $34.48, breaking its 52-week high. Approximately 89,000 shares have changed hands today, as compared to an average 30-day volume of 181,000 shares.

Covenant Transportation Group, Inc. operates as a truckload carrier. The Company offers temperature-controlled transportation service for shippers primarily in the frozen food and consumer products industries. Covenant Transportation Group serves customers in the United States.

Over the past year, Covenant Trans-A has traded in a range of $15.86 to $34.48 and is now at $34.38, 117% above that low. The 200-day and 50-day moving averages have moved 0.64% higher and 0.74% higher over the past week, respectively.

There is potential upside of 4.0% for shares of Covenant Trans-A based on a current price of $34.38 and an average consensus analyst price target of $35.75. The stock should find initial support at its 50-day moving average (MA) of $30.09 and further support at its 200-day MA of $28.42.

SmarTrend recommended that subscribers consider buying shares of Covenant Trans-A on May 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.80. Since that recommendation, shares of Covenant Trans-A have risen 10.0%. We continue to monitor CVTI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows covenant trans-a

Ticker(s): CVTI