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Bullish Moving Average Cross by Zumiez (ZUMZ)

Published on Fri, 01/25/2013 - 12:16
By Robert Cotter

Zumiez (NASDAQ:ZUMZ) crossed over its 10-day moving average of $20.91 on a volume of 374K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Zumiez has overhead space with shares priced $21.10, or 7.0% below the average consensus analyst price target of $22.69. The stock should hit resistance at its 200-day moving average (MA) of $29.67, as well as support at its 50-day MA of $20.30.

Zumiez Inc., is a specialty retailer of action sports related apparel, footwear, equipment, and accessories.

In the past 52 weeks, Zumiez share prices have been bracketed by a low of $15.85 and a high of $41.96 and are now at $21.10, 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has remained constant.

By Robert Cotter
rcotter@fnno.com