Shares of Lincoln Electric Holdings Rise to a New 52-Week High
Shares of Lincoln Electric Holdings (NASDAQ:LECO) traded today at $56.73, breaking its 52-week high. This new high was reached on below average trading volume as 91,000 shares traded hands, while the average 30-day volume is approximately 305,000 shares.
Lincoln Electric Holdings (NASDAQ:LECO) is currently priced 8.7% above its average consensus analyst price target of $51.75. The stock should discover initial support at its 50-day moving average (MA) of $51.16 and subsequent support at its 200-day MA of $45.27.
In the past 52 weeks, Lincoln Electric Holdings share prices have been bracketed by a low of $37.63 and a high of $56.73 and are now at $56.69, 51% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.4%.
Lincoln Electric Holdings, Inc. designs and manufactures welding and cutting products. The Company's products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes, fluxes, and regulators and torches used in oxy-fuel welding and cutting.
SmarTrend recommended that subscribers consider buying shares of Lincoln Electric Holdings on October 31st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.31. Since that recommendation, shares of Lincoln Electric Holdings have risen 29.1%. We continue to monitor LECO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows lincoln electric holdings