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Universal Forest Products: The Winning Streak Continues (UFPI)

By David Diaz

Universal Forest Products (NASDAQ:UFPI) traded today at a new 52-week high of $104.74. This new high was reached on below average trading volume as 83,000 shares traded hands, while the average 30-day volume is approximately 161,000 shares.

Universal Forest Products (NASDAQ:UFPI) defies analysts with a current price ($104.35) 30.0% above its average consensus price target of $73.00. Universal Forest Products shares have support at the 50-day moving average (MA) of $81.76 and additional support at the 200-day MA of $70.35.

Over the past year, Universal Forest Products has traded in a range of $49.75 to $104.74 and is now at $104.35, 110% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.

Universal Forest Products, Inc. engineers, manufactures, treats and distributes lumber products for the do-it-yourself (DIY), manufactured housing, industrial and site-built construction markets. The company distributes its products through home-center retailers, retail- and contractor-oriented regional lumberyards, and to builders and modular-home contractors.

SmarTrend recommended that subscribers consider buying shares of Universal Forest Products on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $85.73. Since that recommendation, shares of Universal Forest Products have risen 18.8%. We continue to monitor UFPI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows universal forest products

Ticker(s): UFPI