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Bearish Moving Average Cross by Tempur-Pedic International (TPX)

Published on Thu, 03/21/2013 - 11:15
By Peter Chu

Tempur-Pedic International (NYSE:TPX) crossed under its 10-day moving average of $45.77 on a volume of 265K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Tempur-Pedic International Inc., through its primary subsidiary Tempur World, manufactures and markets foam mattresses, pillows, and miscellaneous products under the Tempur-Pedic and other brand names.

Tempur-Pedic International (NYSE:TPX) is currently priced 6.8% above its average consensus analyst price target of $42.44. The stock should find initial support at its 50-day moving average (MA) of $39.51 and further support at its 200-day MA of $31.55.

Tempur-Pedic International share prices have moved between a 52-week high of $87.43 and a 52-week low of $20.70 and are now trading 120% above that low price at $45.53 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

By Peter Chu