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LogMeIn Shares Sinking Lower, Down 2.5%

Published on Tue, 08/27/2013 - 14:02
By Mallory Stone

LogMeIn (NASDAQ:LOGM) is one of today's notable stocks in decline, down 2.5% to $29.18. The S&P is trading lower by 1.2% to 1,638 and the Dow is trading 0.9% lower to 14,818.

LogMeIn (NASDAQ:LOGM) has potential upside of 1.1% based on a current price of $29.18 and analysts' consensus price target of $29.50. The stock should find initial support at its 50-day moving average (MA) of $28.00 and further support at its 200-day MA of $23.01.

LogMeIn, Inc. offers remote connectivity services to computers for mobile professionals, and help desk and systems administrators worldwide.

In the past 52 weeks, LogMeIn share prices have been bracketed by a low of $16.12 and a high of $31.74 and are now at $29.18, 81% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.0%.

By Mallory Stone
mstone@fnno.com