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Fossil Bearish Moving Average Crossover Alert (FOSL)

Published on Mon, 03/11/2013 - 11:10
By Peter Chu

Today, shares of Fossil (NASDAQ:FOSL) have crossed bearishly below their 10-day moving average of $103.08 on a volume of 245K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Fossil has traded in a range of $62.77 to $139.20 and is now at $102.19, 63% above that low. The 200-day and 50-day moving averages have moved 0.92% higher and 1.04% higher over the past week, respectively.

Fossil, Inc. designs, develops, markets, and distributes consumer fashion accessories. The Company's products include an extensive line of men's and women's fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, and apparel.

Fossil (NASDAQ:FOSL) has potential upside of 11.5% based on a current price of $102.19 and analysts' consensus price target of $113.92. The stock should discover initial support at its 50-day moving average (MA) of $102.05 and subsequent support at its 200-day MA of $86.59.

By Peter Chu
pchu@fnno.com

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