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Bearish Moving Average Cross by Hain Celestial (HAIN)

Published on Tue, 01/29/2013 - 12:13
By Mallory Stone

Hain Celestial (NASDAQ:HAIN) crossed under its 10-day moving average of $55.08 on a volume of 317K 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.

Potential upside of 28.6% exists for Hain Celestial, based on a current level of $54.60 and analysts' average consensus price target of $70.23. Hain Celestial shares should first meet resistance at the 50-day moving average (MA) of $56.89 and find additional resistance at the 200-day MA of $57.01.

Over the past year, Hain Celestial has traded in a range of $25.59 to $73.72 and is now at $54.60, 113% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.5%.

The Hain Celestial Group Inc is a natural and organic beverage, snack, specialty food, and personal care products company. The Company's product line include grocery store foods such as organic cookies, cooking oils, sugar free products, kosher foods, snacks, and frozen foods, as well as organic skin, hair, and body products. Hain Celestial sells and markets in North America and Europe.

By Mallory Stone
mstone@fnno.com