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Watch for Continued Gains in Shares of PetMed Express (PETS)

By David Diaz

Shares of PetMed Express (NASDAQ:PETS) traded at a new 52-week high today of $20.61. Approximately 287,000 shares have changed hands today, as compared to an average 30-day volume of 149,000 shares.

PetMed Express (NASDAQ:PETS) defies analysts with a current price ($19.99) 15.0% above its average consensus price target of $17.00. The stock should discover initial support at its 50-day moving average (MA) of $17.58 and subsequent support at its 200-day MA of $16.99.

PetMed Express, Inc. is a pet pharmacy. The Company offers prescription and nonprecription pet medications, as well as health and nutritional supplements. PetMed Express offers its products via telephone, fax, mail, and the Internet to customers throughout the United States.

In the past 52 weeks, shares of PetMed Express have traded between a low of $14.53 and a high of $20.61 and are now at $19.99, which is 38% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of PetMed Express on March 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.97. Since that recommendation, shares of PetMed Express have risen 4.3%. We continue to monitor PETS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows petmed express

Ticker(s): PETS