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Shares of New Relic Inc Fall to a New 52-Week Low

By James Quinn

New Relic Inc (NYSE:NEWR) traded at a new 52-week low today of $50.00. This new low was reached on below average trading volume as 1.1 million shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Potential upside of 66.0% exists for New Relic Inc, based on a current level of $52.20 and analysts' average consensus price target of $86.67. The stock should find initial resistance at its 50-day moving average (MA) of $73.49 and further resistance at its 200-day MA of $90.30.

New Relic, Inc. provides cloud based application performance management solutions for cloud and data center applications. The Company offers a solution including real user, application, and availability monitoring features that enable developers and operations teams to manage web application performance in real-time. New Relic conducts its business in the United States.

In the past 52 weeks, New Relic Inc share prices have been bracketed by a current low of $50.00 and a high of $113.34 and are now at $52.20. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.9% while the 200-day MA has slid 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of New Relic Inc on August 5th, 2019 by issuing a Downtrend alert when the shares were trading at $84.18. Since that call, shares of New Relic Inc have fallen 30.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows new relic inc

Ticker(s): NEWR