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Stock Investors Sell Off Shares of Blue Nile, Down 2.2%

Published on Tue, 01/15/2013 - 11:16
By Peter Chu

Blue Nile (NASDAQ:NILE) is one of today's notable stocks in decline, down 2.2% to $34.96. The S&P is trading lower by 0.3% to 1,467 and the Dow is trading 0.3% lower to 13,476.

Over the past year, Blue Nile has traded in a range of $22.94 to $44.99 and is now at $34.96, 52% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

There is potential upside of 15.2% for shares of Blue Nile based on a current price of $34.96 and an average consensus analyst price target of $40.29. The stock should find resistance at its 50-day moving average (MA) of $38.41, as well as support at its 200-day MA of $34.16.

Blue Nile, Inc. is an online retailer of diamonds and fine jewelry. The Company's Web site showcases various independently certified diamonds and various styles of fine jewelry, including rings, wedding bands, earrings, necklaces, pendants, bracelets, and watches.

By Peter Chu
pchu@fnno.com