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Watch for Continued Gains in Shares of Orbotech (ORBK)

By Amy Schwartz

Shares of Orbotech (NASDAQ:ORBK) traded at a new 52-week high today of $27.49. So far today approximately 115,000 shares have been exchanged, as compared to an average 30-day volume of 256,000 shares.

Orbotech (NASDAQ:ORBK) is currently priced 12.5% above its average consensus analyst price target of $24.00. The stock should find initial support at its 50-day moving average (MA) of $23.75 and further support at its 200-day MA of $19.89.

Orbotech, Ltd. designs, develops, manufactures, markets, and services automated optical inspection systems and imaging solutions. The Company also markets computer aided manufacturing solutions. Orbotech has a network of marketing, sales, and customer support teams located throughout North America, Europe, Japan, and the Pacific Rim.

In the past 52 weeks, Orbotech share prices have been bracketed by a low of $13.82 and a high of $27.49 and are now at $27.44, 99% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Orbotech on February 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.64. Since that recommendation, shares of Orbotech have risen 24.4%. We continue to monitor ORBK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows orbotech

Ticker(s): ORBK