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PerkinElmer (PKI) Approaches New Downside Target of $32.62

Published on Mon, 06/24/2013 - 11:13
By Mallory Stone

PerkinElmer (NYSE:PKI) has opened bearishly below the pivot of $33.29 today and has reached the first level of support at $33.06. Analysts will be watching for a cross of the next downside pivot targets of $32.62 and $31.95.

PerkinElmer (NYSE:PKI) has potential upside of 10.1% based on a current price of $32.85 and analysts' consensus price target of $36.15. The stock should discover initial support at its 50-day moving average (MA) of $32.50 and subsequent support at its 200-day MA of $32.25.

In the past 52 weeks, PerkinElmer share prices have been bracketed by a low of $23.73 and a high of $35.86 and are now at $32.85, 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.5%.

PerkinElmer, Inc. provides technology, services and solutions to the diagnostics, academic research, environmental monitoring and safety and security markets. The Company's products include equipment used for genetic screening and drug discovery, optoelectronics, analytical instruments, image detection systems, and fluid containment products.

By Mallory Stone
mstone@fnno.com