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Watch for Continued Gains in Shares of Masimo (MASI)

By Nick Russo

Shares of Masimo (NASDAQ:MASI) traded today at $46.70, breaking its 52-week high. This new high was reached on above average trading volume as 443,000 shares traded hands, while the average 30-day volume is approximately 279,000 shares.

In the past 52 weeks, Masimo share prices have been bracketed by a low of $19.30 and a high of $46.70 and are now at $46.31, 140% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

Masimo Corporation designs, develops and licenses medical signal processing and sensor technology for the noninvasive monitoring of physiological parameters. The Company's first products are designed to improve the effectiveness of pulse oximetry by overcoming the inability of current monitors to precisely measure the levels of arterial blood oxygen saturation and low arterial blood flow.

Masimo (NASDAQ:MASI) is currently priced 0.5% above its average consensus analyst price target of $46.10. The stock should discover initial support at its 50-day moving average (MA) of $40.81 and subsequent support at its 200-day MA of $40.24.

SmarTrend recommended that subscribers consider buying shares of Masimo on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.09. Since that recommendation, shares of Masimo have risen 8.6%. We continue to monitor MASI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Masimo

Ticker(s): MASI