Fossil Bearish Moving Average Crossover Alert (FOSL)

Published on Thu, 07/23/2015 - 12:19
By Mallory Stone in Moving average crossovers, FOSL, fossil, moving crosses, nasdaq:fosl

Today, shares of Fossil (NASDAQ:FOSL) have fallen below their 10-day MA of $69.82 on a volume of 591K 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.

In the past 52 weeks, shares of Fossil have traded between the current low of $67.60 and a high of $115.20 and are now at $67.69. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.8%.

Fossil (NASDAQ:FOSL) has potential upside of 32.1% based on a current price of $67.69 and analysts' consensus price target of $89.40. The stock should find initial resistance at its 50-day moving average (MA) of $72.35 and further resistance at its 200-day MA of $89.77.

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.

By Mallory Stone
mstone@fnno.com

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