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Stock Investors Sell Off Shares of Veolia Environnement, Down 2.6%

Published on Mon, 02/04/2013 - 13:25
By Adrienne Chilton

One of today's notable stocks in decline is Veolia Environnement (NYSE:VE), down 2.6% to $12.53. The Dow is down 0.8% to 13,895 and the S&P is currently down 0.9% to 1,500.

Veolia Environnement operates utility and public transportation businesses. The Company supplies drinking water, provides waste management services, manages and maintains heating and air conditioning systems, and operates rail and road passenger transportation systems.

In the past 52 weeks, Veolia Environnement share prices have been bracketed by a low of $9.37 and a high of $17.17 and are now at $12.53, 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.8%.

Veolia Environnement (NYSE:VE) defies analysts with a current price ($12.53) 22.6% above its average consensus price target of $9.70. The stock should discover initial support at its 50-day moving average (MA) of $11.66 and subsequent support at its 200-day MA of $11.57.

By Adrienne Chilton
achilton@fnno.com