Stock Investors Bid Up Shares of Staples, Up 1.5%

Published on Wed, 03/13/2013 - 12:20
By Adrienne Chilton in Market movers, SPLS, market movers, nasdaq:spls, staples

One of today's stocks on the move is Staples (NASDAQ:SPLS), up 1.5% to $13.21. The Dow is trading fractionally higher to 14,464 and the S&P is currently trading fractionally higher to 1,555.

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.

Staples share prices have moved between a 52-week high of $16.93 and a 52-week low of $10.57 and are now trading 25% above that low price at $13.21 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

There is potential upside of 6.0% for shares of Staples based on a current price of $13.21 and an average consensus analyst price target of $14.00. The stock should find initial support at its 50-day moving average (MA) of $12.84 and further support at its 200-day MA of $12.24.

By Adrienne Chilton
achilton@fnno.com

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