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Shares of Genesco Under Pressure, Down 2.0%

Published on Mon, 01/07/2013 - 13:26
By Peter Chu

One of today's stocks on the move is Genesco (NYSE:GCO), down 2.0% to $56.36. The S&P is trading lower by 0.5% to 1,458 and the Dow is trading 0.6% lower to 13,356.

In the past 52 weeks, Genesco share prices have been bracketed by a low of $50.33 and a high of $78.97 and are now at $56.36, 12% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.

Genesco Inc. retails branded footwear, licensed and branded headwear, and wholesales branded footwear. The Company operates stores throughout the United States, Puerto Rico, and Canada.

Genesco has overhead space with shares priced $56.36, or 23.2% below the average consensus analyst price target of $73.38. The stock should hit resistance at its 200-day moving average (MA) of $64.50, as well as support at its 50-day MA of $55.91.

By Peter Chu
pchu@fnno.com

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