Shares of Orbotech Rise to a New 52-Week High
Shares of Orbotech (NASDAQ:ORBK) traded today at $29.25, breaking its 52-week high. So far today approximately 58,000 shares have been exchanged, as compared to an average 30-day volume of 256,000 shares.
In the past 52 weeks, shares of Orbotech have traded between a low of $13.82 and a high of $29.25 and are now at $28.95, which is 109% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.
Orbotech (NASDAQ:ORBK) defies analysts with a current price ($28.95) 17.1% above its average consensus price target of $24.00. The stock should find initial support at its 50-day moving average (MA) of $23.75 and further support at its 200-day MA of $19.89.
Orbotech, Ltd. designs, develops, manufactures, markets, and services automated optical inspection systems and imaging solutions. The Company also markets computer aided manufacturing solutions. Orbotech has a network of marketing, sales, and customer support teams located throughout North America, Europe, Japan, and the Pacific Rim.
SmarTrend recommended that subscribers consider buying shares of Orbotech on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.45. Since that recommendation, shares of Orbotech have risen 4.3%. We continue to monitor ORBK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows orbotech