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Shares of New Relic Inc Rise to a New 52-Week High

By Shiri Gupta

Shares of New Relic Inc (NYSE:NEWR) traded at a new 52-week high today of $48.35. This new high was reached on below average trading volume as 101,000 shares traded hands, while the average 30-day volume is approximately 323,000 shares.

New Relic Inc (NYSE:NEWR) defies analysts with a current price ($47.71) 0.6% above its average consensus price target of $47.42. The stock should discover initial support at its 200-day moving average (MA) of $32.46 and subsequent support at its 50-day MA of $25.62.

Over the past year, New Relic Inc has traded in a range of $27.20 to $48.35 and is now at $47.71, 75% above that low. The 200-day and 50-day moving averages have moved 0.65% lower and 0.3% lower over the past week, respectively.

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.

SmarTrend is monitoring the recent change of momentum in New Relic Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of New Relic Inc in search of a potential trend change.

Keywords: 52 week high/lows new relic inc

Ticker(s): NEWR