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Bullish Moving Average Cross by Jack in the Box (JACK)

Published on Tue, 02/19/2013 - 12:17
By Adrienne Chilton

Today, shares of Jack in the Box (NASDAQ:JACK) have advanced above their 10-day MA of $29.89 on a volume of 142K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Jack in the Box Inc. operates and franchises Jack In the Box fast-food restaurants primarily in the Western region of the United States. The Company's drive-thru restaurants offer hamburgers, specialty sandwiches, salads, Mexican food, finger foods, and side items.

In the past 52 weeks, shares of Jack in the Box have traded between a low of $18.25 and a high of $30.59 and are now at $30.59, which is 68% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.8%.

Potential upside of 2.2% exists for Jack in the Box, based on a current level of $30.59 and analysts' average consensus price target of $31.25. The stock should find initial support at its 50-day moving average (MA) of $28.93 and further support at its 200-day MA of $26.92.

By Adrienne Chilton
achilton@fnno.com