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Watch for Continued Gains in Shares of BroadSoft (BSFT)

By David Diaz

BroadSoft (NASDAQ:BSFT) traded at a new 52-week high today of $48.01. This new high was reached on below average trading volume as 78,000 shares traded hands, while the average 30-day volume is approximately 426,000 shares.

In the past 52 weeks, BroadSoft share prices have been bracketed by a low of $26.99 and a high of $48.01 and are now at $47.87, 77% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.9%.

Based on a current price of $47.87, BroadSoft is currently 12.9% above its average consensus analyst price target of $41.71. The stock should find initial support at its 50-day moving average (MA) of $38.52 and further support at its 200-day MA of $34.73.

BroadSoft Inc. is a global provider of software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company's software enables customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications.

SmarTrend is monitoring the recent change of momentum in BroadSoft. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of BroadSoft in search of a potential trend change.

Keywords: 52 week high/lows broadsoft

Ticker(s): BSFT