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Central European Distribution Up 25.0%, Penny Stock Attracts Attention (CEDC)

Published on Mon, 03/11/2013 - 12:24
By Robert Cotter

Central European Distribution (NASDAQ:CEDC) is one of today's best performing penny stocks, up 25.0% to $0.50 on 2.0x average daily volume. Central European Distribution has traded 3.9 million shares thus far today, vs. average volume of 1.9 million shares per day. The stock has outperformed the Dow (25.0% to the Dow's 0.3%) and outperformed the S&P 500 (25.0% to the S&P's 0.2%) during today's trading.

Central European Distribution has overhead space with shares priced $0.50, or 85.6% below the average consensus analyst price target of $3.48. Central European Distribution shares should first meet resistance at the 50-day moving average (MA) of $1.61 and find additional resistance at the 200-day MA of $2.46.

Central European Distribution Corporation imports beer, wine, and spirits, and distributes domestic vodka on a nationwide basis in Poland. The Company operates regional distribution centers in major urban areas throughout Poland.

In the past 52 weeks, shares of Central European Distribution have traded between a low of $0.39 and a high of $5.77 and are now at $0.50, which is 28% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 3.7% while the 50-day MA has declined 8.4%.

By Robert Cotter