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Bullish Moving Average Cross by JOS A Bank Clothiers (JOSB)

Published on Wed, 01/02/2013 - 12:41
By Robert Cotter

JOS A Bank Clothiers (NASDAQ:JOSB) crossed over its 10-day moving average of $42.70 on a volume of 182K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Jos. A. Bank Clothiers, Inc. manufactures classic men's clothing. The Company sells its clothing through conventional retail stores and catalog direct marketing located throughout the United States.

Over the past year, JOS A Bank Clothiers has traded in a range of $39.29 to $57.14 and is now at $43.61, 11% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.5%.

Potential upside of 19.2% exists for JOS A Bank Clothiers, based on a current level of $43.61 and analysts' average consensus price target of $52.00. The stock should find initial resistance at its 50-day moving average (MA) of $45.29 and further resistance at its 200-day MA of $45.81.

By Robert Cotter