Genesco (NYSE:GCO) shares have crossed bearishly below their 10-day moving average of $58.56 on a volume of 799K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Genesco share prices have been bracketed by a low of $53.39 and a high of $78.97 and are now at $55.37, 4% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.
There is potential upside of 45.0% for shares of Genesco based on a current price of $55.37 and an average consensus analyst price target of $80.29. The stock should find initial resistance at its 50-day moving average (MA) of $61.35 and further resistance at its 200-day MA of $66.55.
Genesco Inc. retails branded footwear, licensed and branded headwear, and wholesales branded footwear. The Company operates stores throughout the United States, Puerto Rico, and Canada.
