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LogMeIn Bullish Moving Average Crossover Alert (LOGM)

Published on Fri, 07/26/2013 - 13:33
By Mallory Stone

Today, shares of LogMeIn (NASDAQ:LOGM) have advanced above their 10-day MA of $28.56 on a volume of 689K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

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

LogMeIn (NASDAQ:LOGM) defies analysts with a current price ($29.59) 0.3% above its average consensus price target of $29.50. LogMeIn shares have support at the 50-day moving average (MA) of $26.00 and additional support at the 200-day MA of $22.14.

In the past 52 weeks, shares of LogMeIn have traded between a low of $16.12 and a high of $32.45 and are now at $29.59, which is 84% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.5%.

By Mallory Stone
mstone@fnno.com

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