Jun 10, 2013 (SmarTrend(R) Spotlight via COMTEX) — SmarTrend identified an Uptrend for Magic Software Enterprises (NASDAQ:MGIC) on December 4th, 2012 at $4.61. In approximately 6 months, Magic Software Enterprises has returned 16.84% as of today’s recent price of $5.39.
In the past 52 weeks, shares of Magic Software Enterprises have traded between a low of $3.76 and a high of $7.52 and are now at $5.39, which is 43% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.5%.
Magic Software Enterprises Ltd. develops, markets, and supports software development and deployment technology. The Company sells applications designed for electronic business, customer relationship management, and other enterprise uses. Magic Software Enterprises also provides maintenance and technical support as well as professional services.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Magic Software Enterprises shares.Log in and add Magic Software Enterprises (MGIC) to your watchlist today so you can receive a real-time alert when the shares are about to change trend.
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