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Watch for Continued Gains in Shares of Vonage Holdings (VG)

By Shiri Gupta

Vonage Holdings (NYSE:VG) traded at a new 52-week high today of $12.19. This new high was reached on below average trading volume as 192,000 shares traded hands, while the average 30-day volume is approximately 1.5 million shares.

Over the past year, Vonage Holdings has traded in a range of $6.28 to $12.19 and is now at $12.07, 92% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.6%.

Vonage Holdings has overhead space with shares priced $12.07, or 5.9% below the average consensus analyst price target of $12.82. The stock should find initial support at its 50-day moving average (MA) of $11.25 and further support at its 200-day MA of $10.00.

Vonage Holdings Corporation provides telecommunications services. The Company offers technology that uses customers' existing high-speed internet connection to make and receive phone calls worldwide with a touch-tone telephone.

SmarTrend recommended that subscribers consider buying shares of Vonage Holdings on March 17th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.54. Since that recommendation, shares of Vonage Holdings have risen 84.4%. We continue to monitor VG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows vonage holdings

Ticker(s): VG