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Volume Spike Detected in Shares of Scientific Games as They Move Higher on 1.9x Above-Average Volume (SGMS)

Published on Thu, 08/08/2013 - 13:38
By Adrienne Chilton

Shares of Scientific Games are trading today in above average volume, with the share price rising 5.2% to $14.15. About 840,000 shares have been traded today, as compared to the 30-day average volume of 445,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

Scientific Games Corporation provides services, systems, and products to both the pari-mutuel gaming and instant ticket lottery industries. The Company operates an instant ticket and online lottery products, systems, and services business. Scientific also operates wagering and communications, venue management, and telecommunications products businesses.

Over the past year, Scientific Games has traded in a range of $5.53 to $14.44 and is now at $14.15, 156% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has risen 0.9%.

Scientific Games (NASDAQ:SGMS) is currently priced 32.9% above its average consensus analyst price target of $9.50. The stock should find initial support at its 50-day moving average (MA) of $12.16 and further support at its 200-day MA of $9.49.

By Adrienne Chilton
achilton@fnno.com