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Sears Holdings (SHLD) Breaks Through Support at $46.63

Published on Wed, 01/30/2013 - 10:40
By Robert Cotter

Sears Holdings (NASDAQ:SHLD) has opened bearishly below the pivot of $47.52 today and has reached the first level of support at $46.63. Should the shares continue to fall, the support pivots of $45.87 and $44.22 will be of interest.

In the past 52 weeks, Sears Holdings share prices have been bracketed by a low of $38.40 and a high of $85.90 and are now at $46.30, 21% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 1.76% lower over the past week, respectively.

Sears Holdings Corporation is a broadline retailer with full-line and specialty retail stores in the United States and Canada. The Company retails home appliances, as well as tools, lawn and garden products, home electronics, and other products. Sears Holdings also provides automotive repair and maintenance.

Sears Holdings (NASDAQ:SHLD) is currently priced 41.2% above its average consensus analyst price target of $27.24. The stock should find resistance at its 200-day moving average (MA) of $52.92, as well as support at its 50-day MA of $43.96.

By Robert Cotter