Bullish Moving Average Cross by Barnes & Noble (BKS)

Published on Thu, 02/26/2015 - 12:34
By Robert Cotter in Moving average crossovers, BKS, barnes & noble, moving crosses, nyse:bks

Barnes & Noble (NYSE:BKS) crossed over its 10-day moving average of $24.64 on a volume of 1.6 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

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.

Barnes & Noble (NYSE:BKS) is currently priced 7.7% above its average consensus analyst price target of $24.00. The stock should discover initial support at its 50-day moving average (MA) of $23.77 and subsequent support at its 200-day MA of $21.86.

Barnes & Noble share prices have moved between a 52-week high of $26.22 and a 52-week low of $15.45 and are now trading 68% above that low price at $26.00 per share. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.5%.

By Robert Cotter
rcotter@fnno.com

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