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Shares of Ritchie Bros Auctioneers Rise to a New 52-Week High

By Nick Russo

Shares of Ritchie Bros Auctioneers (NYSE:RBA) traded at a new 52-week high today of $34.12. So far today approximately 77,000 shares have been exchanged, as compared to an average 30-day volume of 461,000 shares.

Based on a current price of $34.12, Ritchie Bros Auctioneers is currently 11.7% above its average consensus analyst price target of $30.14. The stock should discover initial support at its 50-day moving average (MA) of $26.67 and subsequent support at its 200-day MA of $25.77.

Ritchie Bros. Auctioneers Incorporated auctions industrial equipment, operating through various locations around the world. The Company sells, through unreserved public auctions, used and unused industrial equipment, including equipment used in the construction, transportation, mining, forestry, petroleum, and agricultural industries.

Ritchie Bros Auctioneers share prices have moved between a 52-week high of $34.12 and a 52-week low of $21.03 and are now trading 62% above that low price at $34.12 per share. The 200-day and 50-day moving averages have moved 0.17% higher and 1.83% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Ritchie Bros Auctioneers on February 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.24. Since that recommendation, shares of Ritchie Bros Auctioneers have risen 45.2%. We continue to monitor RBA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows ritchie bros auctioneers

Ticker(s): RBA