LogMeIn Bullish Moving Average Crossover Alert (LOGM)

Published on Fri, 07/24/2015 - 12:07
By Mallory Stone in Moving average crossovers, LOGM, logmein, moving crosses, nasdaq:logm

Today, shares of LogMeIn (NASDAQ:LOGM) have crossed bullishly above their 10-day moving average of $65.84 on a volume of 1.2 million shares. Swing traders may find an opportunity 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.

Over the past year, LogMeIn has traded in a range of $39.06 to $75.42 and is now at $73.12, 87% above that low. The 200-day and 50-day moving averages have moved 0.71% higher and 0.10% higher over the past week, respectively.

Based on a current price of $73.12, LogMeIn is currently 6.2% above its average consensus analyst price target of $68.62. LogMeIn shares have support at the 50-day moving average (MA) of $64.81 and additional support at the 200-day MA of $54.90.

By Mallory Stone
mstone@fnno.com

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