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Bullish Moving Average Cross by Sears Holdings (SHLD)

Published on Tue, 02/05/2013 - 12:14
By Robert Cotter

Today, shares of Sears Holdings (NASDAQ:SHLD) have crossed bullishly above their 10-day moving average of $46.56 on a volume of 254K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Sears Holdings Corporation is a broadline retailer with full-line and specialty retail stores in the United States and Canada. The Company retails home appliances, as well as tools, lawn and garden products, home electronics, and other products. Sears Holdings also provides automotive repair and maintenance.

Sears Holdings (NASDAQ:SHLD) is currently priced 42.6% above its average consensus analyst price target of $27.24. The stock should hit resistance at its 200-day moving average (MA) of $52.69, as well as support at its 50-day MA of $43.64.

In the past 52 weeks, shares of Sears Holdings have traded between a low of $38.40 and a high of $85.90 and are now at $47.50, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.3% lower and 0.18% lower over the past week, respectively.

By Robert Cotter
rcotter@fnno.com