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Shutterfly Bearish Moving Average Crossover Alert (SFLY)

Published on Thu, 03/21/2013 - 11:15
By Mallory Stone

Today, shares of Shutterfly (NASDAQ:SFLY) have fallen below their 10-day MA of $43.72 on a volume of 163K 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, Shutterfly share prices have been bracketed by a low of $23.52 and a high of $45.43 and are now at $43.10, 83% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.8%.

Shutterfly (NASDAQ:SFLY) has potential upside of 5.3% based on a current price of $43.10 and analysts' consensus price target of $45.40. The stock should discover initial support at its 50-day moving average (MA) of $38.84 and subsequent support at its 200-day MA of $31.77.

Shutterfly, Inc. operates an e-commerce Internet website. The website offers a wide range of photo-related products and services for social expression and personal publishing.

By Mallory Stone