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Watch for Continued Gains in Shares of International Game Technology (IGT)

By David Diaz

International Game Technology (NYSE:IGT) traded today at a new 52-week high of $27.44. So far today approximately 207,000 shares have been exchanged, as compared to an average 30-day volume of 655,000 shares.

International Game Technology designs and manufactures computerized casino gaming systems. The Company also develops and manufactures systems that monitor slot machine play and track player activity, as well as wide area progressive systems. International Game sells its products around the world.

In the past 52 weeks, shares of International Game Technology have traded between a low of $12.48 and a high of $27.44 and are now at $27.30, which is 119% above that low price. The 200-day and 50-day moving averages have moved 0.07% lower and 1.42% higher over the past week, respectively.

Based on a current price of $27.30, International Game Technology is currently 27.4% above its average consensus analyst price target of $19.83. The stock should find initial support at its 50-day moving average (MA) of $17.15 and further support at its 200-day MA of $16.41.

SmarTrend recommended that subscribers consider buying shares of International Game Technology on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.07. Since that recommendation, shares of International Game Technology have risen 35.3%. We continue to monitor IGT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows international game technology

Ticker(s): IGT