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Watch for Continued Gains in Shares of Constellation Brands (STZ)

By James Quinn

Shares of Constellation Brands (NYSE:STZ) traded today at $165.00, breaking its 52-week high. This new high was reached on below average trading volume as 257,000 shares traded hands, while the average 30-day volume is approximately 1.4 million shares.

In the past 52 weeks, Constellation Brands share prices have been bracketed by a low of $114.49 and a high of $165.00 and are now at $164.54, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.6%.

Constellation Brands, Inc. produces and markets beverage alcohol in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.

Based on a current price of $164.54, Constellation Brands is currently 11.6% above its average consensus analyst price target of $145.47. Constellation Brands shares have support at the 50-day moving average (MA) of $150.83 and additional support at the 200-day MA of $138.99.

SmarTrend recommended that subscribers consider buying shares of Constellation Brands on March 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $145.67. Since that recommendation, shares of Constellation Brands have risen 12.3%. We continue to monitor STZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Constellation Brands

Ticker(s): STZ