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Watch for Continued Gains in Shares of CardioNet (BEAT)

By James Quinn

CardioNet (NASDAQ:BEAT) traded today at a new 52-week high of $30.65. This new high was reached on above average trading volume as 611,000 shares traded hands, while the average 30-day volume is approximately 192,000 shares.

CardioNet has overhead space with shares priced $30.60, or 1.3% below the average consensus analyst price target of $31.00. CardioNet shares have support at the 50-day moving average (MA) of $12.44 and additional support at the 200-day MA of $12.39.

CardioNet, Inc. provides ambulatory outpatient management solutions for monitoring clinical information regarding an individual's health. The Company's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders.

In the past 52 weeks, CardioNet share prices have been bracketed by a low of $7.86 and a high of $30.65 and are now at $30.60, 289% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 2.4%.

SmarTrend recommended that subscribers consider buying shares of CardioNet on November 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.85. Since that recommendation, shares of CardioNet have risen 44.8%. We continue to monitor BEAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows cardionet

Ticker(s): BEAT