Stock Investors Bid Up Shares of Staples, Up 1.8%

Published on Tue, 02/05/2013 - 11:30
By Peter Chu in Market movers, SPLS, market movers, nasdaq:spls, staples

Staples (NASDAQ:SPLS) is a company whose shares are active, trading 1.8% higher to $13.57. The Dow Jones Industrial Average is now trading 0.8% higher to 13,996 and the S&P is trading 0.9% higher to 1,509.

Over the past year, Staples has traded in a range of $10.57 to $16.93 and is now at $13.57, 28% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.

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 (NASDAQ:SPLS) is currently priced 0.8% above its average consensus analyst price target of $13.47. The stock should discover initial support at its 200-day moving average (MA) of $12.45 and subsequent support at its 50-day MA of $12.06.

By Peter Chu
pchu@fnno.com

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