user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 505880 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

Bearish Moving Average Cross by Buffalo Wild Wings (BWLD)

Published on Thu, 05/23/2013 - 11:24
By Robert Cotter

Buffalo Wild Wings (NASDAQ:BWLD) shares have crossed bearishly below their 10-day moving average of $94.86 on a volume of 162K 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.

Buffalo Wild Wings share prices have moved between a 52-week high of $97.49 and a 52-week low of $68.71 and are now trading 37% above that low price at $94.36 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

Potential upside of 9.0% exists for Buffalo Wild Wings, based on a current level of $94.36 and analysts' average consensus price target of $102.82. The stock should discover initial support at its 50-day moving average (MA) of $90.34 and subsequent support at its 200-day MA of $80.77.

Buffalo Wild Wings Inc. owns, operates, and franchises casual dining restaurants. The restaurants feature made to order menu items including New York style chicken wings. The company operates restaurants in multiple states.

By Robert Cotter