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Watch for Continued Gains in Shares of Aerojet Rocketdy (AJRD)

By Shiri Gupta

Shares of Aerojet Rocketdy (NYSE:AJRD) traded at a new 52-week high today of $29.36. This new high was reached on below average trading volume as 90,000 shares traded hands, while the average 30-day volume is approximately 214,000 shares.

Aerojet Rocketdyne Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, develops and manufactures propulsion systems for defense and space applications, as well as armaments for precision tactical and long-range weapon systems applications. Aerojet Rocketdyne Holdings also provides real estate services, including entitlement, sale, and leasing.

Aerojet Rocketdy share prices have moved between a 52-week high of $29.36 and a 52-week low of $16.04 and are now trading 82% above that low price at $29.18 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.7%.

Aerojet Rocketdy (NYSE:AJRD) is currently priced 8.6% above its average consensus analyst price target of $26.67. The stock should find initial support at its 200-day moving average (MA) of $17.52 and further support at its 50-day MA of $16.64.

SmarTrend recommended that subscribers consider buying shares of Aerojet Rocketdy on June 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.24. Since that recommendation, shares of Aerojet Rocketdy have risen 31.3%. We continue to monitor AJRD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows aerojet rocketdy

Ticker(s): AJRD