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Shares of Conn's Are Moving Higher on 1.7x Above-Average Volume (CONN)

Published on Thu, 02/07/2013 - 14:26
By Adrienne Chilton

The price of Conn's shares has climbed to $30.42 (a 1.5% change) on heavy trading volume. Approximately 812,000 shares have changed hands today vs. average 30-day volume of 488,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Conn's, Inc. is a specialty retailer of home appliances and consumer electronics through stores in Texas and Louisiana, and via its website. Conn's also offers home office equipment, lawn and garden products, and other home products such as bedding.

In the past 52 weeks, Conn's share prices have been bracketed by a low of $11.00 and a high of $31.35 and are now at $30.42, 177% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.3%.

Conn's (NASDAQ:CONN) has potential upside of 15.5% based on a current price of $30.42 and analysts' consensus price target of $35.12. The stock should discover initial support at its 50-day moving average (MA) of $28.71 and subsequent support at its 200-day MA of $22.50.

By Adrienne Chilton
achilton@fnno.com