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Shares of Ebix Rise Above Previous 52-Week High

By Shiri Gupta

Ebix (NASDAQ:EBIX) traded today at a new 52-week high of $56.21. So far today approximately 88,000 shares have been exchanged, as compared to an average 30-day volume of 323,000 shares.

Ebix (NASDAQ:EBIX) is currently priced 16.4% above its average consensus analyst price target of $47.00. Ebix shares have support at the 50-day moving average (MA) of $42.02 and additional support at the 200-day MA of $33.60.

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 provides products, support, and consultancy to customers on several continents.

Over the past year, Ebix has traded in a range of $19.78 to $56.21 and is now at $56.19, 184% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 3.1%.

SmarTrend recommended that subscribers consider buying shares of Ebix on January 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.03. Since that recommendation, shares of Ebix have risen 66.7%. We continue to monitor EBIX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows

Ticker(s): EBIX