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Watch for Continued Gains in Shares of NIC (EGOV)

By Nick Russo

NIC (NASDAQ:EGOV) traded today at a new 52-week high of $22.85. This new high was reached on below average trading volume as 79,000 shares traded hands, while the average 30-day volume is approximately 212,000 shares.

NIC (NASDAQ:EGOV) is currently priced 8.4% above its average consensus analyst price target of $20.92. The stock should discover initial support at its 200-day moving average (MA) of $18.60 and subsequent support at its 50-day MA of $17.75.

NIC share prices have moved between a 52-week high of $22.85 and a 52-week low of $14.48 and are now trading 58% above that low price at $22.83 per share. The 200-day and 50-day moving averages have moved 0.09% higher and 0.47% higher over the past week, respectively.

NIC Inc. provides Internet-based electronic government solutions. The Company designs, builds, and operates Internet-based portals for state and local agencies in the United States.

SmarTrend recommended that subscribers consider buying shares of NIC on June 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.14. Since that recommendation, shares of NIC have risen 10.3%. We continue to monitor EGOV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows nic

Ticker(s): EGOV