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Watch for Shares of Lexmark International (LXK) to Approach Resistance at $24.11

Published on Tue, 02/05/2013 - 10:44
By Robert Cotter

Lexmark International (NYSE:LXK) has opened bullishly above the pivot of $23.65 today and has reached the first level of resistance at $23.85. Investors may be interested in a cross of the next upside pivot targets of $24.11 and $24.57.

Lexmark International, Inc. develops, manufactures, and supplies printing and imaging solutions for offices and homes. The Company's products include laser printers, inkjet printers, multifunction devices, and associated supplies, services and solutions.

Lexmark International (NYSE:LXK) is currently priced 18.2% above its average consensus analyst price target of $19.57. The stock should find resistance at its 50-day moving average (MA) of $25.08, as well as support at its 200-day MA of $23.88.

In the past 52 weeks, shares of Lexmark International have traded between a low of $16.10 and a high of $38.34 and are now at $23.92, which is 49% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

By Robert Cotter