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Expeditors International of Washington (EXPD) Approaches New Downside Target of $35.22

Published on Wed, 03/27/2013 - 09:43
By Mallory Stone

Expeditors International of Washington (NASDAQ:EXPD) has opened bearishly below the pivot of $35.74 today and has reached the first level of support at $35.51. Should the shares continue to fall, the support pivots of $35.22 and $34.70 will be of interest.

Expeditors International of Washington has overhead space with shares priced $35.49, or 20.9% below the average consensus analyst price target of $44.87. The stock should find initial resistance at its 200-day moving average (MA) of $38.33 and further resistance at its 50-day MA of $40.70.

In the past 52 weeks, shares of Expeditors International of Washington have traded between a low of $34.20 and a high of $55.30 and are now at $35.49, which is 4% above that low price. The 200-day and 50-day moving averages have moved 0.09% lower and 0.94% lower over the past week, respectively.

Expeditors International of Washington, Inc. is a global logistics company. The Company provides air and ocean freight forwarding, vendor consolidation, customs clearance, marine insurance, distribution, and other international logistics services.

By Mallory Stone
mstone@fnno.com