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Shares of Watsco Under Pressure, Down 1.1%

Published on Thu, 02/07/2013 - 11:33
By Robert Cotter

One of today's notable stocks in decline is Watsco (NYSE:WSO), down 1.1% to $74.40. The S&P is currently trading 0.8% lower to 1,501 and the Dow Jones Industrial Average is trading 0.8% lower to 13,871.

In the past 52 weeks, shares of Watsco have traded between a low of $64.13 and a high of $80.34 and are now at $74.40, which is 16% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Watsco, Inc. distributes air conditioning, heating, and refrigeration equipment, as well as related parts and supplies. The Company operates various locations in the United States, with primary markets in the Sunbelt.

Watsco (NYSE:WSO) is currently priced 3.5% above its average consensus analyst price target of $71.80. The stock should hit resistance at its 50-day moving average (MA) of $74.41, as well as support at its 200-day MA of $73.58.

By Robert Cotter
rcotter@fnno.com

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