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Watch for Continued Gains in Shares of Mentor Graphics (MENT)

By Amy Schwartz

Mentor Graphics (NASDAQ:MENT) traded today at a new 52-week high of $29.03. Approximately 181,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.

Mentor Graphics Corporation manufactures, markets, and supports software and hardware electronic design automation products. The Company provides related services which enable engineers to design, analyze, simulate, model, implement, and verify the components of electronic systems.

Mentor Graphics (NASDAQ:MENT) is currently priced 2.9% above its average consensus analyst price target of $28.00. The stock should discover initial support at its 200-day moving average (MA) of $21.77 and subsequent support at its 50-day MA of $19.95.

Over the past year, Mentor Graphics has traded in a range of $8.50 to $29.03 and is now at $28.85, 239% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of Mentor Graphics on April 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.74. Since that recommendation, shares of Mentor Graphics have risen 38.9%. We continue to monitor MENT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows mentor graphics

Ticker(s): MENT