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Bearish Moving Average Cross by Urban Outfitters (URBN)

Published on Mon, 02/04/2013 - 12:13
By Adrienne Chilton

Urban Outfitters (NASDAQ:URBN) crossed under its 10-day moving average of $42.94 on a volume of 709K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Potential upside of 4.4% exists for Urban Outfitters, based on a current level of $42.78 and analysts' average consensus price target of $44.66. The stock should discover initial support at its 50-day moving average (MA) of $40.01 and subsequent support at its 200-day MA of $34.17.

Urban Outfitters, Inc. operates retail stores and direct response, including a catalog and Web sites. The Company's Urban Outfitters and Anthropologie retail concepts sell fashion apparel, accessories, and household and gift merchandise. Urban also designs and markets young women's casual wear which it provides to the Company's retail operations and sells to retailers worldwide.

Urban Outfitters share prices have moved between a 52-week high of $43.81 and a 52-week low of $21.47 and are now trading 99% above that low price at $42.78 per share. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.8%.

By Adrienne Chilton
achilton@fnno.com

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