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Shares of Teck Resources Rise to a New 52-Week High

By James Quinn

Teck Resources (NYSE:TCK) traded today at a new 52-week high of $20.84. This new high was reached on below average trading volume as 3.4 million shares traded hands, while the average 30-day volume is approximately 11.8 million shares.

Teck Resources (NYSE:TCK) is currently priced 61.7% above its average consensus analyst price target of $7.89. The stock should find initial support at its 50-day moving average (MA) of $8.47 and further support at its 200-day MA of $6.07.

Teck Resources share prices have moved between a 52-week high of $20.84 and a 52-week low of $2.56 and are now trading 704% above that low price at $20.57 per share. The 200-day and 50-day moving averages have moved 0.85% higher and 4.96% higher over the past week, respectively.

Teck Resources Ltd. is an integrated natural resource group with activities in mining, smelting, and refining. The Company mines zinc, copper, molybdenum, gold, and metallurgical coal in the United States, Canada, Peru, and Chile. Teck also produces refined metals, specialized metal products, and other products.

SmarTrend recommended that subscribers consider buying shares of Teck Resources on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.60. Since that recommendation, shares of Teck Resources have risen 78.0%. We continue to monitor TCK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Teck Resources

Ticker(s): TCK