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Watch for Continued Gains in Shares of SAIC (SAI)

Published on Wed, 04/24/2013 - 14:24
By Adrienne Chilton

SAIC (NYSE:SAI) traded at a new 52-week high today of $14.54. So far today approximately 2.9 million shares have been exchanged, as compared to an average 30-day volume of 4.4 million shares.

In the past 52 weeks, shares of SAIC have traded between a low of $10.30 and a high of $14.54 and are now at $14.46, which is 40% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

SAIC, Inc. provides scientific, engineering, systems integration and technical services and solutions in such areas as national security, intelligence and homeland defense.

SAIC (NYSE:SAI) is currently priced 14.4% above its average consensus analyst price target of $12.38. The stock should find initial support at its 50-day moving average (MA) of $12.80 and further support at its 200-day MA of $11.94.

By Adrienne Chilton
achilton@fnno.com