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American Eagle Outfitters Bearish Moving Average Crossover Alert (AEO)

Published on Fri, 02/22/2013 - 12:14
By Mallory Stone

American Eagle Outfitters (NYSE:AEO) shares have crossed bearishly below their 10-day moving average of $20.38 on a volume of 1.3 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, American Eagle Outfitters share prices have been bracketed by a low of $13.97 and a high of $23.94 and are now at $20.23, 45% above that low price. The 200-day and 50-day moving averages have moved 0.08% higher and 0.18% lower over the past week, respectively.

American Eagle Outfitters (NYSE:AEO) has potential upside of 22.1% based on a current price of $20.23 and analysts' consensus price target of $24.69. The stock should find initial resistance at its 50-day moving average (MA) of $20.44 and further resistance at its 200-day MA of $20.63.

American Eagle Outfitters, Inc. retails men's and women's casual apparel, footwear, outerwear, and accessories. The Company's products include jeans, khakis, T-shirts, and other similar apparel. American Eagle operates in the United States.

By Mallory Stone
mstone@fnno.com