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Bullish Moving Average Cross by United Natural Foods (UNFI)

Published on Fri, 03/15/2013 - 11:13
By Peter Chu

Today, shares of United Natural Foods (NASDAQ:UNFI) have advanced above their 10-day MA of $49.28 on a volume of 193K 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.

In the past 52 weeks, United Natural Foods share prices have been bracketed by a low of $32.83 and a high of $61.26 and are now at $49.40, 50% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

There is potential upside of 16.6% for shares of United Natural Foods based on a current price of $49.40 and an average consensus analyst price target of $57.58. The stock should find initial resistance at its 50-day moving average (MA) of $52.49 and further resistance at its 200-day MA of $54.03.

United Natural Foods, Inc. distributes natural foods and related products. The Company offers natural products consisting of groceries and general merchandise, nutritional supplements, bulk and foodservice products, personal care items, perishables, and frozen foods.

By Peter Chu
pchu@fnno.com

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