Bullish Moving Average Cross by Barnes & Noble (BKS)

Published on Thu, 01/24/2013 - 12:16
By Robert Cotter in Moving average crossovers, BKS, barnes & noble, moving crosses, nyse:bks

Today, shares of Barnes & Noble (NYSE:BKS) have advanced above their 10-day MA of $13.11 on a volume of 481K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Barnes & Noble has overhead space with shares priced $13.30, or 37.2% below the average consensus analyst price target of $21.17. The stock should run into initial resistance at its 200-day moving average (MA) of $14.51 and subsequent resistance at its 50-day MA of $14.59.

Barnes & Noble, Inc. operates superstores and mall-based bookstores throughout the US. The Company operates book superstores under the names Barnes & Noble Booksellers, Bookstop, and Bookstar. Barnes & Noble also operates bookstores in shopping malls under the names B. Dalton Bookseller, Doubleday Book Shops, and Scribner's Bookstore.

In the past 52 weeks, Barnes & Noble share prices have been bracketed by a low of $10.45 and a high of $26.00 and are now at $13.30, 27% above that low price. The 200-day and 50-day moving averages have moved 0.02% higher and 0.59% lower over the past week, respectively.

By Robert Cotter
rcotter@fnno.com

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