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

By James Quinn

Yelp Inc (NASDAQ:YELP) traded today at a new 52-week high of $43.71. This new high was reached on below average trading volume as 583,000 shares traded hands, while the average 30-day volume is approximately 1.7 million shares.

Yelp Inc (NASDAQ:YELP) is currently priced 27.2% above its average consensus analyst price target of $31.65. The stock should discover initial support at its 200-day moving average (MA) of $23.59 and subsequent support at its 50-day MA of $20.55.

Yelp Inc. operates a social networking, user review, and local search website. The Company provides the site as a guide for online search capabilities for its visitors to find reviews and details about local businesses. Yelp provides listings for businesses throughout the United States and Canada.

Over the past year, Yelp Inc has traded in a range of $26.35 to $43.71 and is now at $43.50, 65% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Yelp Inc on July 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.74. Since that recommendation, shares of Yelp Inc have risen 35.1%. We continue to monitor YELP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows yelp inc

Ticker(s): YELP