Bearish Moving Average Cross by Urban Outfitters (URBN)

Published on Tue, 05/19/2015 - 11:23
By Peter Chu in Moving average crossovers, URBN, moving crosses, nasdaq:urbn, urban outfitters

Urban Outfitters (NASDAQ:URBN) shares have crossed bearishly below their 10-day moving average of $39.62 on a volume of 15.8 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Urban Outfitters has overhead space with shares priced $33.88, or 25.1% below the average consensus analyst price target of $45.20. Urban Outfitters shares should first meet resistance at the 200-day moving average (MA) of $37.14 and find additional resistance at the 50-day MA of $42.95.

Over the past year, Urban Outfitters has traded in a range of $21.47 to $47.25 and is now at $33.88, 58% above that low. The 200-day and 50-day moving averages have moved 0.17% higher and 0.15% higher over the past week, respectively.

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.

By Peter Chu
pchu@fnno.com

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