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Shares of Glu Mobile Inc Rise to a New 52-Week High

By Nick Russo

Glu Mobile Inc (NASDAQ:GLUU) traded at a new 52-week high today of $3.70. This new high was reached on below average trading volume as 1 million shares traded hands, while the average 30-day volume is approximately 2.3 million shares.

Based on a current price of $3.66, Glu Mobile Inc is currently 21.6% above its average consensus analyst price target of $2.87. The stock should find initial support at its 200-day moving average (MA) of $3.53 and further support at its 50-day MA of $2.98.

Glu Mobile Inc. develops and publishes mobile games on a global basis. The Company develops its games and related applications based on third-party licensed brands and other intellectual property, as well as on its own brands and intellectual property.

Over the past year, Glu Mobile Inc has traded in a range of $1.73 to $3.70 and is now at $3.66, 112% above that low. Over the past week, the 200-day moving average (MA) has gone down 2.2% while the 50-day MA has declined 3.3%.

SmarTrend recommended that subscribers consider buying shares of Glu Mobile Inc on March 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.32. Since that recommendation, shares of Glu Mobile Inc have risen 56.9%. We continue to monitor GLUU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows glu mobile inc

Ticker(s): GLUU