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Shares of Lear Has Risen Above Previous 52-Week High

By David Diaz

Lear (NYSE:LEA) traded at a new 52-week high today of $151.43. This new high was reached on below average trading volume as 129,000 shares traded hands, while the average 30-day volume is approximately 862,000 shares.

Lear Corporation provides seating systems, electrical distribution systems and electronic products. Lear also offers its customers design, engineering, validation, and project management support.

Lear has overhead space with shares priced $149.91, or 4.2% below the average consensus analyst price target of $156.43. The stock should discover initial support at its 200-day moving average (MA) of $111.06 and subsequent support at its 50-day MA of $109.72.

Lear share prices have moved between a 52-week high of $151.43 and a 52-week low of $89.71 and are now trading 67% above that low price at $149.91 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Lear on April 20th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $140.25. Since that recommendation, shares of Lear have risen 6.3%. We continue to monitor LEA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Lear

Ticker(s): LEA