Conn's (NASDAQ:CONN) crossed over its 10-day moving average of $27.81 on a volume of 2.4 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Conn's, Inc. is a specialty retailer of home appliances and consumer electronics through stores in Texas and Louisiana, and via its website. Conn's also offers home office equipment, lawn and garden products, and other home products such as bedding.
Conn's has overhead space with shares priced $28.20, or 9.4% below the average consensus analyst price target of $31.14. The stock should discover initial support at its 50-day moving average (MA) of $25.37 and subsequent support at its 200-day MA of $19.56.
Conn's share prices have moved between a 52-week high of $29.23 and a 52-week low of $10.00 and are now trading 182% above that low price at $28.20 per share. The 200-day and 50-day moving averages have moved 1.10% higher and 1.04% higher over the past week, respectively.