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Buyers Accumulating Shares of Alliant Techsystems on 1.4x Above-Average Volume (ATK)

Published on Wed, 01/30/2013 - 14:14
By Adrienne Chilton

Alliant Techsystems shares are trading on heavy volume today, having risen 0.2% to $65.52. Today's volume of 312,000 shares tops the average 30-day volume of 229,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Based on a current price of $65.52, Alliant Techsystems is currently 0.4% above its average consensus analyst price target of $65.25. The stock should discover initial support at its 50-day moving average (MA) of $62.81 and subsequent support at its 200-day MA of $53.80.

Alliant Techsystems Inc. develops and supplies advanced weapon and space systems. The Company's offerings include advanced missile systems, precision-guided munitions, electronic warfare and aircraft integration programs, satellite components and sub-systems, military ammunition and gun systems, and supplies ammunition to law enforcement agencies.

Alliant Techsystems share prices have moved between a 52-week high of $67.78 and a 52-week low of $43.08 and are now trading 52% above that low price at $65.52 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.

By Adrienne Chilton
achilton@fnno.com