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Steven Madden: 52-Week High Recently Eclipsed (SHOO)

By David Diaz

Steven Madden (NASDAQ:SHOO) traded at a new 52-week high today of $50.90. This new high was reached on below average trading volume as 52,000 shares traded hands, while the average 30-day volume is approximately 519,000 shares.

In the past 52 weeks, Steven Madden share prices have been bracketed by a low of $32.14 and a high of $50.90 and are now at $50.75, 58% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.4%.

Steven Madden (NASDAQ:SHOO) has potential upside of 1.5% based on a current price of $50.75 and analysts' consensus price target of $51.50. The stock should discover initial support at its 50-day moving average (MA) of $35.94 and subsequent support at its 200-day MA of $35.25.

Steven Madden, Ltd. designs and markets fashion footwear for women. The Company's shoes are sold through Steve Madden retail stores, department stores, apparel and footwear specialty stores, and online. Steven Madden has licensees, including sportswear and jeans, outerwear, intimate apparel, eyewear, hosiery, and jewelry, and owns and operates a retail store under its David Aaron brand.

SmarTrend recommended that subscribers consider buying shares of Steven Madden on March 12th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.40. Since that recommendation, shares of Steven Madden have risen 10.4%. We continue to monitor SHOO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows steven madden

Ticker(s): SHOO