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Sonic Corp: 52-Week High Recently Eclipsed (SONC)

By Shiri Gupta

Shares of Sonic Corp (NASDAQ:SONC) traded today at $33.82, breaking its 52-week high. This new high was reached on below average trading volume as 196,000 shares traded hands, while the average 30-day volume is approximately 819,000 shares.

Over the past year, Sonic Corp has traded in a range of $22.11 to $33.82 and is now at $33.70, 52% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has risen 0.6%.

Sonic Corp. franchises and operates a chain of drive-in restaurants. The Company currently has company-owned and franchised restaurants, principally in the south central and southeastern United States. Sonic's restaurants offer made-to-order hamburgers and other sandwiches, as well as signature items.

Sonic Corp (NASDAQ:SONC) is currently priced 16.5% above its average consensus analyst price target of $28.12. The stock should find initial support at its 50-day moving average (MA) of $26.28 and further support at its 200-day MA of $25.58.

SmarTrend is monitoring the recent change of momentum in Sonic Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Sonic Corp in search of a potential trend change.

Keywords: 52 week high/lows sonic corp

Ticker(s): SONC