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Bearish Moving Average Cross by True Religion Apparel (TRLG)

Published on Thu, 03/21/2013 - 11:16
By Adrienne Chilton

Today, shares of True Religion Apparel (NASDAQ:TRLG) have fallen below their 10-day MA of $27.56 on a volume of 496K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

True Religion Apparel (NASDAQ:TRLG) has potential upside of 18.8% based on a current price of $26.27 and analysts' consensus price target of $31.20. The stock should find initial support at its 50-day moving average (MA) of $26.12 and further support at its 200-day MA of $25.40.

Over the past year, True Religion Apparel has traded in a range of $20.22 to $30.66 and is now at $26.27, 30% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

True Religion Apparel, Inc. designs, manufactures, markets, distributes, and sells through its wholly-owned subsidiary Guru Denim, Inc under the True Religion Brand Jeans trademarks. The Company sells its jeans in the United States and abroad to upscale retailers and boutiques. This includes Nordstrom, Bloomingdales, Bergdorf Goodman, Urban Outfitters and other fashion boutiques.

By Adrienne Chilton