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Universal Displa Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Universal Displa (NASDAQ:OLED) traded at a new 52-week high today of $158.87. This new high was reached on below average trading volume as 277,000 shares traded hands, while the average 30-day volume is approximately 937,000 shares.

In the past 52 weeks, Universal Displa share prices have been bracketed by a low of $78.75 and a high of $158.87 and are now at $158.87, 102% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.5% while the 200-day MA has risen 1.1%.

Universal Displa (NASDAQ:OLED) is currently priced 4.4% above its average consensus analyst price target of $151.83. The stock should find initial support at its 50-day moving average (MA) of $116.70 and further support at its 200-day MA of $106.78.

Universal Display Corporation is a member of the United States Display Consortium. The Consortium is a cooperative industry and government effort aimed at developing an infrastructure to support a North American flat panel display infrastructure. The Company and its partners are developing high-resolution, full color, light weight Organic Light Emitting Diode (OLED) technology.

SmarTrend recommended that subscribers consider buying shares of Universal Displa on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $94.95. Since that recommendation, shares of Universal Displa have risen 63.0%. We continue to monitor OLED for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows universal displa

Ticker(s): OLED