user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 429002 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Possible Bearish Inside Day Candle Pattern Detected for Safeway (NYSE:SWY)

Published on Fri, 01/25/2013 - 08:28
By Adrienne Chilton

Analysts have spotted a possible bearish inside day candle pattern in Safeway (NYSE:SWY) based on the price action in the company's shares. Yesterday's price range of $19.18 and $19.76 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Safeway may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Safeway (NYSE:SWY) is currently priced 4.4% above its average consensus analyst price target of $18.46. The stock should find initial support at its 50-day moving average (MA) of $17.56 and further support at its 200-day MA of $17.43.

Safeway Inc. operates a retail food and drug chain in the U.S. and Canada. The Company also has a network of distribution, manufacturing, and food processing facilities. Safeway's retail operations are located in California, Oregon, Washington, Alaska, Colorado, Arizona, Texas, the Chicago metropolitan area and the Mid-Atlantic region, British Columbia, Alberta and Manitoba/Saskatchewan.

In the past 52 weeks, Safeway share prices have been bracketed by a low of $14.73 and a high of $23.16 and closed yesterday at $19.32, 31% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 1.00% higher over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com

Latest News from FNNO

Cyberonics Shares Sinking Lower, Down 1....

Cyberonics (NASDAQ:CYBX), a company whose shares are moving quickly, is trading 1.5% lo ...

Shares of American Axle & Manufacturing ...

One of today's notable stocks in decline is American Axle & Manufacturing (NYSE:AXL), d ...

Stock Investors Sell Off Shares of Toyot...

Down 1.5% to $115.22, Toyota Motor (NYSE:TM), is one of today's notable movers. The Do ...

Shares of Turkcell Iletisim Hizmet Under...

Turkcell Iletisim Hizmet (NYSE:TKC), a company whose shares are moving quickly, is trad ...

Shares of DigitalGlobe Under Pressure, D...

DigitalGlobe (NYSE:DGI), a company whose shares are moving quickly, is trading 1.5% low ...

Cheesecake Factory Makes a Move: Down 1....

Cheesecake Factory (NASDAQ:CAKE) is one of today's biggest movers, down 1.5% to $44.37. ...

CTS Makes a Move: Down 1.5%...

CTS (NYSE:CTS), a company whose shares are moving quickly, is trading 1.5% lower to $17 ...

Bridgepoint Education Shares Sinking Low...

Bridgepoint Education (NYSE:BPI), a company whose shares are moving quickly, is trading ...