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Watch for Continued Gains in Shares of Parexel International (PRXL)

By Shiri Gupta

Shares of Parexel International (NASDAQ:PRXL) traded at a new 52-week high today of $87.25. This new high was reached on above average trading volume as 8 million shares traded hands, while the average 30-day volume is approximately 446,000 shares.

Parexel International (NASDAQ:PRXL) is currently priced 28.1% above its average consensus analyst price target of $62.67. The stock should find initial support at its 200-day moving average (MA) of $64.62 and further support at its 50-day MA of $62.43.

PAREXEL International Corporation is a contract research and product launch organization. The Company provides outsourcing services to the worldwide pharmaceutical, biotechnology and medical device industries. PAREXEL has operations in various countries around the world.

Parexel International share prices have moved between a 52-week high of $87.25 and a 52-week low of $51.16 and are now trading 70% above that low price at $87.13 per share. The 200-day and 50-day moving averages have moved 0.19% lower and 0.26% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Parexel International on May 4th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.53. Since that recommendation, shares of Parexel International have risen 24.3%. We continue to monitor PRXL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows parexel international

Ticker(s): PRXL