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Watch for Continued Gains in Shares of Grubhub Inc (GRUB)

By Nick Russo

Grubhub Inc (NYSE:GRUB) traded at a new 52-week high today of $148.55. This new high was reached on below average trading volume as 228,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

In the past 52 weeks, Grubhub Inc share prices have been bracketed by a low of $49.60 and a high of $148.55 and are now at $148.25, 199% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.5% while the 50-day MA has advanced 2.5%.

GrubHub, Inc. operates an online and mobile platform for restaurant pick-up and delivery orders. The Company's platform assists diners in searching for local restaurant, tracking the order, and re-order for convenience. The Company operates within the United States and the United Kingdom.

Grubhub Inc (NYSE:GRUB) is currently priced 32.5% above its average consensus analyst price target of $100.10. The stock should find initial support at its 50-day moving average (MA) of $127.68 and further support at its 200-day MA of $101.17.

SmarTrend recommended that subscribers consider buying shares of Grubhub Inc on July 19th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $113.53. Since that recommendation, shares of Grubhub Inc have risen 27.7%. We continue to monitor GRUB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows grubhub inc

Ticker(s): GRUB