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Shares of Manhattan Assoc Fall to a New 52-Week Low

By James Quinn

Manhattan Assoc (NASDAQ:MANH) traded today at a new 52-week low of $35.20. Approximately 99,000 shares have changed hands today, as compared to an average 30-day volume of 614,000 shares.

There is potential upside of 39.0% for shares of Manhattan Assoc based on a current price of $35.98 and an average consensus analyst price target of $50.00. The stock should run into initial resistance at its 50-day moving average (MA) of $75.77 and subsequent resistance at its 200-day MA of $77.48.

In the past 52 weeks, Manhattan Assoc share prices have been bracketed by a current low of $35.20 and a high of $90.46 and are now at $35.98. The 200-day and 50-day moving averages have moved 0.39% lower and 2.72% lower over the past week, respectively.

Manhattan Associates, Inc. provides information technology solutions for distribution centers. The solutions are designed to enable the efficient movement of goods through the supply chain. The Company's solutions optimize the receipt, storage, and distribution of inventory, as well as manage equipment and personnel within a distribution center.

SmarTrend is tracking the current trend status for Manhattan Assoc and will alert subscribers who have MANH in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows manhattan assoc

Ticker(s): MANH