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Shares of Masco Rise Above Previous 52-Week High

By Shiri Gupta

Masco (NYSE:MAS) traded today at a new 52-week high of $38.69. So far today approximately 688,000 shares have been exchanged, as compared to an average 30-day volume of 3.1 million shares.

Masco Corporation manufactures, and sells home improvement and building products. The Company's products include faucets, kitchen and bath cabinets, architectural coatings, and builders' hardware products. Masco sells its products through mass merchandisers, home centers, hardware stores, and other wholesale and retail outlets to consumers and contractors.

Masco (NYSE:MAS) is currently priced 1.8% above its average consensus analyst price target of $37.94. The stock should discover initial support at its 50-day moving average (MA) of $30.83 and subsequent support at its 200-day MA of $28.06.

Masco share prices have moved between a 52-week high of $38.69 and a 52-week low of $22.52 and are now trading 72% above that low price at $38.65 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Masco on November 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.33. Since that recommendation, shares of Masco have risen 19.4%. We continue to monitor MAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows MASCO

Ticker(s): MAS