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

Published on Wed, 06/03/2015 - 12:52
By Adrienne Chilton in Moving average crossovers, CONN, conn's, moving crosses, nasdaq:conn

Conn's (NASDAQ:CONN) crossed over its 10-day moving average of $38.51 on a volume of 1.1 million 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, Conn's share prices have been bracketed by a low of $14.02 and a high of $51.99 and are now at $38.71, 176% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.6%.

There is potential upside of 5.9% for shares of Conn's based on a current price of $38.71 and an average consensus analyst price target of $41.00. The stock should discover initial support at its 50-day moving average (MA) of $33.18 and subsequent support at its 200-day MA of $28.81.

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 Adrienne Chilton
achilton@fnno.com

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