Shares of Staples Under Pressure, Down 2.2%

Published on Wed, 04/17/2013 - 10:30
By Mallory Stone in Market movers, SPLS, market movers, nasdaq:spls, staples

Staples (NASDAQ:SPLS) is a company whose shares are active, trading 2.2% lower to $12.79. The S&P is currently trading 1.4% lower to 1,552 and the Dow Jones Industrial Average is trading 1.0% lower to 14,602.

Staples, Inc. retails office supplies, furniture, and technology. The Company's customers include consumers and businesses in the United States, Canada, the United Kingdom, and Germany. Staples serves its customers through office superstores, mail order catalogs, the Internet, and a contract business.

There is potential upside of 9.5% for shares of Staples based on a current price of $12.79 and an average consensus analyst price target of $14.00. The stock should find resistance at its 50-day moving average (MA) of $13.29, as well as support at its 200-day MA of $12.30.

Over the past year, Staples has traded in a range of $10.57 to $16.09 and is now at $12.79, 21% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

By Mallory Stone
mstone@fnno.com

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