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Watch for Continued Gains in Shares of PACCAR (PCAR)

Published on Fri, 03/15/2013 - 14:21
By Mallory Stone

PACCAR (NASDAQ:PCAR) traded today at a new 52-week high of $51.38. Approximately 1.6 million shares have changed hands today, as compared to an average 30-day volume of 2 million shares.

Over the past year, PACCAR has traded in a range of $35.21 to $51.38 and is now at $51.21, 45% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.

PACCAR Inc designs, develops, manufactures, and distributes light-, medium-, and heavy-duty trucks, and related aftermarket distribution of parts. The Company also offers finance and leasing services to its customers and dealers.

PACCAR (NASDAQ:PCAR) is currently priced 4.7% above its average consensus analyst price target of $48.80. The stock should find initial support at its 50-day moving average (MA) of $47.52 and further support at its 200-day MA of $42.51.

By Mallory Stone
mstone@fnno.com