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Watch for Continued Gains in Shares of Shake Shack In-A (SHAK)

By David Diaz

Shares of Shake Shack In-A (NYSE:SHAK) traded at a new 52-week high today of $69.90. So far today approximately 118,000 shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares.

Shake Shack Inc. operates roadside burger stands. The Company focuses on food and beverages, crafted from a range of classic American foods such as burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, and beer and wine. Shake Shack serves customers globally.

Shake Shack In-A (NYSE:SHAK) is currently priced 28.3% above its average consensus analyst price target of $49.89. The stock should find initial support at its 50-day moving average (MA) of $55.01 and further support at its 200-day MA of $43.10.

In the past 52 weeks, Shake Shack In-A share prices have been bracketed by a low of $30.12 and a high of $69.90 and are now at $69.61, 131% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 2.7%.

SmarTrend recommended that subscribers consider buying shares of Shake Shack In-A on March 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.19. Since that recommendation, shares of Shake Shack In-A have risen 67.5%. We continue to monitor SHAK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows shake shack in-a

Ticker(s): SHAK