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Watch for Continued Gains in Shares of Ubiquiti Network (UBNT)

By Nick Russo

Shares of Ubiquiti Network (NASDAQ:UBNT) traded at a new 52-week high today of $98.31. Approximately 207,000 shares have changed hands today, as compared to an average 30-day volume of 358,000 shares.

Ubiquiti Network (NASDAQ:UBNT) defies analysts with a current price ($97.39) 39.6% above its average consensus price target of $58.87. The stock should discover initial support at its 50-day moving average (MA) of $85.94 and subsequent support at its 200-day MA of $76.84.

Ubiquiti Networks Inc. offers a broad and expanding portfolio of wireless networking products and solutions. The Company's products and solutions, include high performance radios, antennas and management tools that have been designed to deliver carrier class performance for wireless networking and other applications in the unlicensed radio frequency, or RF, spectrum.

In the past 52 weeks, shares of Ubiquiti Network have traded between a low of $36.13 and a high of $98.31 and are now at $97.39, which is 170% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.

SmarTrend is monitoring the recent change of momentum in Ubiquiti Network. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ubiquiti Network in search of a potential trend change.

Keywords: 52 week high/lows ubiquiti network

Ticker(s): UBNT