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Conn's Crosses Above its 10-day MA (CONN)

Published on Thu, 06/06/2013 - 11:13
By Robert Cotter

Conn's (NASDAQ:CONN) crossed over its 10-day moving average of $48.85 on a volume of 720K 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 (NASDAQ:CONN) is currently priced 0.3% above its average consensus analyst price target of $49.62. Conn's shares have support at the 50-day moving average (MA) of $44.07 and additional support at the 200-day MA of $31.82.

Over the past year, Conn's has traded in a range of $14.40 to $53.37 and is now at $49.76, 246% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has risen 1.3%.

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.

By Robert Cotter
rcotter@fnno.com