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Stock Investors Bid Up Shares of hhgregg, Up 2.0%

Published on Tue, 01/08/2013 - 13:23
By Robert Cotter

Up 2.0% to $7.19, hhgregg (NYSE:HGG), is one of today's notable movers. The S&P is currently trading 0.6% lower to 1,453 and the Dow Jones Industrial Average is trading 0.6% lower to 13,305.

hhgregg has overhead space with shares priced $7.19, or 14.9% below the average consensus analyst price target of $8.44. hhgregg shares should first meet resistance at the 50-day moving average (MA) of $7.52 and find additional resistance at the 200-day MA of $8.63.

Over the past year, hhgregg has traded in a range of $5.84 to $13.86 and is now at $7.19, 23% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

hhgregg, Inc. retails video products, brand name appliances, audio products and accessories.

By Robert Cotter
rcotter@fnno.com

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