• Return to Headlines

Watch for Continued Gains in Shares of Emcore (EMKR)

By Nick Russo

Shares of Emcore (NASDAQ:EMKR) traded at a new 52-week high today of $11.20. This new high was reached on below average trading volume as 98,000 shares traded hands, while the average 30-day volume is approximately 437,000 shares.

Potential upside of 4.9% exists for Emcore, based on a current level of $11.20 and analysts' average consensus price target of $11.75. Emcore shares have support at the 200-day moving average (MA) of $6.27 and additional support at the 50-day MA of $5.41.

EMCORE Corporation offers a broad portfolio of products for the broadband, fiber optic, satellite and terrestrial solar power markets. The Company's products include optical components and systems for high-speed data and telecommunications networks, cable television, and fiber-to-the-premises applications, and products for both satellite and terrestrial power generation.

In the past 52 weeks, shares of Emcore have traded between a low of $4.90 and a high of $11.20 and are now at $11.20, which is 129% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Emcore on October 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.93. Since that recommendation, shares of Emcore have risen 86.5%. We continue to monitor EMKR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows emcore

Ticker(s): EMKR