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Chico's FAS Bearish Moving Average Crossover Alert (CHS)

Published on Thu, 02/07/2013 - 12:16
By Mallory Stone

Today, shares of Chico's FAS (NYSE:CHS) have crossed bearishly below their 10-day moving average of $17.78 on a volume of 1.4 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Potential upside of 14.0% exists for Chico's FAS, based on a current level of $17.61 and analysts' average consensus price target of $20.08. The stock should find resistance at its 50-day moving average (MA) of $18.16, as well as support at its 200-day MA of $16.95.

Chico's FAS, Inc. sells private label women's casual clothing and related accessories. The Company's clothing includes tops, pants, shorts, skirts, and dresses. Chico's owns and operates stores throughout the United States.

Chico's FAS share prices have moved between a 52-week high of $19.76 and a 52-week low of $11.35 and are now trading 55% above that low price at $17.61 per share. The 200-day and 50-day moving averages have moved 0.22% higher and 0.13% lower over the past week, respectively.

By Mallory Stone
mstone@fnno.com