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Cresud SACIF Makes a Move: Up 2.3%

Published on Tue, 02/26/2013 - 11:24
By Adrienne Chilton

Cresud SACIF (NASDAQ:CRESY) is a company whose shares are active, trading 2.3% higher to $8.61. The Dow is up 0.6% to 13,867 and the S&P is currently up 0.2% to 1,492.

Cresud SACIF (NASDAQ:CRESY) has potential upside of 56.2% based on a current price of $8.61 and analysts' consensus price target of $13.45. The stock should find resistance at its 50-day moving average (MA) of $8.78, as well as support at its 200-day MA of $8.29.

Cresud S.A.C.I.F.y A. purchases and leases farms in Argentina's Pampas region, and produces agricultural products. The Company cultivates grains including wheat, corn, soybeans, and sunflowers, raises beef and dairy cattle, and produces milk.

In the past 52 weeks, Cresud SACIF share prices have been bracketed by a low of $6.69 and a high of $13.41 and are now at $8.61, 29% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 0.10% higher over the past week, respectively.

By Adrienne Chilton