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Fossil Down 2.4% Since CLSA Downgraded One Week Ago (FOSL)

Published on Wed, 02/20/2013 - 10:08
By Robert Cotter

CLSA downgraded Fossil (NASDAQ:FOSL) from Buy to Outperform a week ago. The shares closed at $104.93, or 2.4% under the $107.46 price of one week ago.

Based on a current price of $105.04, Fossil is currently 4.2% above its average consensus analyst price target of $100.58. The stock should find initial support at its 50-day moving average (MA) of $99.16 and further support at its 200-day MA of $85.95.

In the past 52 weeks, Fossil share prices have been bracketed by a low of $62.77 and a high of $139.20 and are now at $105.04, 67% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.

Fossil, Inc. designs, develops, markets, and distributes consumer fashion accessories. The Company's products include an extensive line of men's and women's fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, and apparel.

By Robert Cotter
rcotter@fnno.com