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Shares of Fomento Economico Mexicano Rise to a New 52-Week High

Published on Tue, 01/29/2013 - 15:13
By Adrienne Chilton

Fomento Economico Mexicano (NYSE:FMX) traded at a new 52-week high today of $110.20. Approximately 404,000 shares have changed hands today, as compared to an average 30-day volume of 552,000 shares.

Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is an integrated beverage company. The Company through its subsidiaries produces, distributes and markets large-scale soft drinks, beer and convenience stores throughout Latin America, the United States and Mexico.

In the past 52 weeks, shares of Fomento Economico Mexicano have traded between a low of $68.65 and a high of $110.20 and are now at $110.13, which is 60% above that low price. The 200-day and 50-day moving averages have moved 0.44% higher and 1.09% higher over the past week, respectively.

Fomento Economico Mexicano (NYSE:FMX) is currently priced 3.2% above its average consensus analyst price target of $106.56. The stock should find initial support at its 50-day moving average (MA) of $100.71 and further support at its 200-day MA of $89.83.

By Adrienne Chilton