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Shares of Ebix Inc Fall Below Previous 52-Week Low

By Nick Russo

Ebix Inc (NASDAQ:EBIX) traded at a new 52-week low today of $35.17. So far today approximately 54,000 shares have been exchanged, as compared to an average 30-day volume of 331,000 shares.

Ebix, Inc. supplies software and electronic commerce solutions to the insurance industry. The Company provides a series of application software ranging from carrier systems, agency systems, and exchanges to custom software development for all entities involved in the insurance and financial industries. Ebix offers products, support, and consultancy to customers on several continents.

In the past 52 weeks, shares of Ebix Inc have traded between the current low of $35.17 and a high of $89.10 and are now at $35.17. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.3%.

Ebix Inc (NASDAQ:EBIX) has potential upside of 212.8% based on a current price of $35.17 and analysts' consensus price target of $110.00. Ebix Inc shares should first meet resistance at the 50-day moving average (MA) of $46.45 and find additional resistance at the 200-day MA of $49.56.

SmarTrend recommended that its subscribers protect gains by selling shares of Ebix Inc on July 18th, 2019 by issuing a Downtrend alert when the shares were trading at $44.42. Since that call, shares of Ebix Inc have fallen 20.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows ebix inc

Ticker(s): EBIX