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Veeco Instrument Looks to Continue to Trade Below its Annual-Low Share Price Today

By David Diaz

Veeco Instrument (NASDAQ:VECO) traded today at a new 52-week low of $9.04. This new low was reached on below average trading volume as 62,000 shares traded hands, while the average 30-day volume is approximately 467,000 shares.

In the past 52 weeks, Veeco Instrument share prices have been bracketed by a current low of $9.04 and a high of $22.35 and are now at $9.05. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.5%.

There is potential upside of 136.5% for shares of Veeco Instrument based on a current price of $9.05 and an average consensus analyst price target of $21.40. Veeco Instrument shares should first meet resistance at the 50-day moving average (MA) of $11.02 and find additional resistance at the 200-day MA of $15.25.

Veeco Instruments Inc. manufactures enabling solutions for customers in the HB-LED, solar, data storage, semiconductor, scientific research, and industrial markets. The Company has technology positions in three businesses, LED and solar process equipment, data storage process equipment, and metrology instruments.

SmarTrend is tracking the current trend status for Veeco Instrument and will alert subscribers who have VECO in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows veeco instrument

Ticker(s): VECO