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Watch for Continued Losses in Shares of Viacom Inc-B (VIAB)

By Nick Russo

Viacom Inc-B (NASDAQ:VIAB) traded at a new 52-week low today of $21.62. This new low was reached on below average trading volume as 312,000 shares traded hands, while the average 30-day volume is approximately 4.3 million shares.

In the past 52 weeks, shares of Viacom Inc-B have traded between the current low of $21.62 and a high of $33.66 and are now at $21.67. The 200-day and 50-day moving averages have moved 0.23% lower and 1.89% lower over the past week, respectively.

Potential upside of 59.4% exists for Viacom Inc-B, based on a current level of $21.67 and analysts' average consensus price target of $34.55. Viacom Inc-B shares should first meet resistance at the 50-day moving average (MA) of $24.77 and find additional resistance at the 200-day MA of $28.21.

Viacom Inc. produces media entertainment content. The Company creates and acquires programming for television, the Internet, mobile devices, video games, and other consumer electronics products. Viacom also produces, finances, and distributes motion pictures to movie theaters and on DVDs, television, digital and other platforms internationally.

SmarTrend is tracking the current trend status for Viacom Inc-B and will alert subscribers who have VIAB in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows viacom inc-b

Ticker(s): VIAB