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Shares of Urban Outfitter Has Risen Above Previous 52-Week High

By James Quinn

Urban Outfitter (NASDAQ:URBN) traded today at a new 52-week high of $41.90. This new high was reached on below average trading volume as 800,000 shares traded hands, while the average 30-day volume is approximately 2 million shares.

Urban Outfitters, Inc. operates retail stores and direct response, including a catalog and Web sites. The Company's Urban Outfitters and Anthropologie retail concepts sell fashion apparel, accessories, and household and gift merchandise. Urban also designs and markets young women's casual wear which it provides to the Company's retail operations and sells to retailers worldwide.

In the past 52 weeks, shares of Urban Outfitter have traded between a low of $16.19 and a high of $41.90 and are now at $41.90, which is 159% above that low price. The 200-day and 50-day moving averages have moved 0.45% lower and 0.59% higher over the past week, respectively.

Urban Outfitter (NASDAQ:URBN) is currently priced 17.5% above its average consensus analyst price target of $34.59. The stock should discover initial support at its 50-day moving average (MA) of $30.93 and subsequent support at its 200-day MA of $27.99.

SmarTrend recommended that subscribers consider buying shares of Urban Outfitter on February 23rd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.35. Since that recommendation, shares of Urban Outfitter have risen 12.3%. We continue to monitor URBN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows urban outfitter

Ticker(s): URBN