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Watch for Continued Gains in Shares of Edwards Lifesciences (EW)

By David Diaz

Edwards Lifesciences (NYSE:EW) traded today at a new 52-week high of $117.46. So far today approximately 1.7 million shares have been exchanged, as compared to an average 30-day volume of 1.9 million shares.

Edwards Lifesciences Corporation designs, develops, manufactures, and markets products and services to treat late-stage cardiovascular disease. The Company's products include tissue replacement heart valves, heart valve repair products, hemodynamic monitoring devices, angioscopy equipment, oxygenators, and pharmaceuticals. Edwards supplies its products to customers located worldwide.

There is potential upside of 48.3% for shares of Edwards Lifesciences based on a current price of $116.61 and an average consensus analyst price target of $172.89. The stock should find initial support at its 50-day moving average (MA) of $96.47 and further support at its 200-day MA of $81.36.

In the past 52 weeks, shares of Edwards Lifesciences have traded between a low of $61.38 and a high of $117.46 and are now at $116.61, which is 90% 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 1.5%.

SmarTrend recommended that subscribers consider buying shares of Edwards Lifesciences on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.13. Since that recommendation, shares of Edwards Lifesciences have risen 3.1%. We continue to monitor EW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows edwards lifesciences

Ticker(s): EW