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Constellation Brands Trading Lower on 1.2x Above-Average Volume (STZ)

Published on Mon, 02/04/2013 - 14:15
By Adrienne Chilton

Shares of Constellation Brands are trading today in above average volume, with the share price falling 2.7% to $31.81. Today's volume of 4.6 million shares tops the average 30-day volume of 3.7 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Constellation Brands, Inc. produces and markets beverage alcohol in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.

In the past 52 weeks, Constellation Brands share prices have been bracketed by a low of $18.50 and a high of $39.65 and are now at $31.81, 72% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 1.3%.

Constellation Brands (NYSE:STZ) has potential upside of 20.2% based on a current price of $31.81 and analysts' consensus price target of $38.22. The stock should hit resistance at its 50-day moving average (MA) of $36.05, as well as support at its 200-day MA of $30.08.

By Adrienne Chilton
achilton@fnno.com