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The Stanley Works Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

The Stanley Works (NYSE:SWK) traded today at a new 52-week high of $119.95. Approximately 654,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.

The Stanley Works is a diversified worldwide supplier of tools and engineered solutions for professional, industrial and construction and do-it-yourself use. The Company's products include mechanical and electronic security products and systems, professional industrial and automotive mechanics tools, hand tools, consumer mechanics tools, storage systems, pneumatic tools, and fasteners.

The Stanley Works (NYSE:SWK) defies analysts with a current price ($119.53) 2.5% above its average consensus price target of $116.58. The stock should discover initial support at its 50-day moving average (MA) of $104.69 and subsequent support at its 200-day MA of $102.43.

In the past 52 weeks, The Stanley Works share prices have been bracketed by a low of $88.72 and a high of $119.95 and are now at $119.53, 35% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of The Stanley Works on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.84. Since that recommendation, shares of The Stanley Works have risen 20.0%. We continue to monitor SWK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows the stanley works

Ticker(s): SWK