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Shares of Aceto Rise Above Previous 52-Week High

Published on Tue, 03/26/2013 - 14:11
By Robert Cotter

Aceto (NASDAQ:ACET) traded today at a new 52-week high of $11.49. So far today approximately 65,000 shares have been exchanged, as compared to an average 30-day volume of 107,000 shares.

There is potential upside of 6.2% for shares of Aceto based on a current price of $11.30 and an average consensus analyst price target of $12.00. The stock should find initial support at its 50-day moving average (MA) of $10.48 and further support at its 200-day MA of $9.59.

In the past 52 weeks, shares of Aceto have traded between a low of $7.90 and a high of $11.49 and are now at $11.30, which is 43% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

Aceto Corporation develops, manufactures, distributes, and markets fine and industrial chemicals. The Company's chemicals are used in the agricultural, color producing, pharmaceutical, and surface coating industries.

By Robert Cotter
rcotter@fnno.com