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Buffalo Wild Wings Trading Lower on 1.5x Above-Average Volume (BWLD)

Published on Wed, 01/02/2013 - 14:14
By Adrienne Chilton

Buffalo Wild Wings's stock is down 1.8% to $71.53 on heavy trading volume. Today's volume of 536,000 shares tops the average 30-day volume of 354,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

Buffalo Wild Wings Inc. owns, operates, and franchises casual dining restaurants. The restaurants feature made to order menu items including New York style chicken wings. The company operates restaurants in multiple states.

In the past 52 weeks, Buffalo Wild Wings share prices have been bracketed by a low of $62.19 and a high of $94.81 and are now at $71.53, 15% above that low price. The 200-day and 50-day moving averages have moved 0.43% lower and 1.74% lower over the past week, respectively.

Potential upside of 19.5% exists for Buffalo Wild Wings, based on a current level of $71.53 and analysts' average consensus price target of $85.50. The stock should run into initial resistance at its 50-day moving average (MA) of $74.63 and subsequent resistance at its 200-day MA of $80.89.

By Adrienne Chilton
achilton@fnno.com

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