• user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed 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 = 433369 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.
  • user warning: Table './fnndrupaldev/sessions' is marked as crashed and last (automatic?) repair failed query: SELECT COUNT(sid) AS count FROM sessions WHERE timestamp >= 1414161122 AND uid = 0 in /var/www/www.fnno.com/htdocs/includes/session.inc on line 111.
  • user warning: Table './fnndrupaldev/sessions' is marked as crashed and last (automatic?) repair failed query: SELECT DISTINCT u.uid, u.name, s.timestamp FROM users u INNER JOIN sessions s ON u.uid = s.uid WHERE s.timestamp >= 1414161122 AND s.uid > 0 ORDER BY s.timestamp DESC in /var/www/www.fnno.com/htdocs/modules/user/user.module on line 765.

Bearish Moving Average Cross by Fomento Economico Mexicano (FMX)

Published on Thu, 01/31/2013 - 12:09
By Robert Cotter

Fomento Economico Mexicano (NYSE:FMX) crossed under its 10-day moving average of $108.78 on a volume of 437K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Fomento Economico Mexicano share prices have been bracketed by a low of $68.65 and a high of $111.92 and are now at $108.57, 58% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.1%.

Based on a current price of $108.57, Fomento Economico Mexicano is currently 1.9% above its average consensus analyst price target of $106.56. The stock should discover initial support at its 50-day moving average (MA) of $101.48 and subsequent support at its 200-day MA of $90.12.

Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is an integrated beverage company. The Company through its subsidiaries produces, distributes and markets large-scale soft drinks, beer and convenience stores throughout Latin America, the United States and Mexico.

By Robert Cotter
rcotter@fnno.com

Latest News from FNNO

Computer Sciences (CSC) Approaches New U...

Shares of Computer Sciences (NYSE:CSC) opened today above their pivot of $59.16 and hav ...

Watch for Shares of Compuware (CPWR) to ...

Shares of Compuware (NASDAQ:CPWR) have bullishly opened above the pivot of $9.97 today ...

Range Resources (RRC) Breaks Through Sup...

Shares of Range Resources (NYSE:RRC) opened today below their pivot of $68.66 and have ...

Nicor (GAS) Breaks Through Support at $5...

Nicor (NYSE:GAS) has opened bearishly below the pivot of $54.41 today and has reached t ...

Eastman Chemical (EMN) Crosses Pivot Poi...

Shares of Eastman Chemical (NYSE:EMN) opened today below their pivot of $78.05 and have ...

Next Resistance Level for PG&E (PCG) is ...

PG&E (NYSE:PCG) has opened bullishly above the pivot of $46.28 today and has reached th ...

Coca-Cola Enterprises (CCE) Breaks Throu...

Shares of Coca-Cola Enterprises (NYSE:CCE) have bearishly opened below the pivot of $42 ...

Watch for Shares of Ventas (VTR) to Appr...

Shares of Ventas (NYSE:VTR) opened today below their pivot of $67.63 and have already r ...