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Stock Investors Bid Up Shares of Beam, Up 1.9%

Published on Thu, 04/18/2013 - 12:50
By Mallory Stone

Beam (NYSE:BEAM) is one of today's biggest movers, up 1.9% to $63.01. The S&P is currently trading 0.2% lower to 1,548 and the Dow Jones Industrial Average is trading fractionally lower to 14,590.

In the past 52 weeks, Beam share prices have been bracketed by a low of $52.69 and a high of $66.21 and are now at $63.01, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Beam, Inc. owns and distributes liquor brands. The Company markets bourbon, liqueur, rye, vodka, scotch, rum, gin, brandy, cognac, cordials, tequila, and sherry worldwide.

Beam has overhead space with shares priced $63.01, or 3.8% below the average consensus analyst price target of $65.50. The stock should find initial support at its 50-day moving average (MA) of $61.82 and further support at its 200-day MA of $59.85.

By Mallory Stone
mstone@fnno.com