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Trading Higher on Heavy Volume are Shares of hhgregg on 1.7x Above-Average Volume (HGG)

Published on Thu, 01/10/2013 - 14:11
By Adrienne Chilton

hhgregg shares are trading on heavy volume today, having risen 11.6% to $7.82. Approximately 472,000 shares have changed hands today vs. average 30-day volume of 273,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

hhgregg, Inc. retails video products, brand name appliances, audio products and accessories.

There is potential upside of 8.0% for shares of hhgregg based on a current price of $7.82 and an average consensus analyst price target of $8.44. The stock should find resistance at its 200-day moving average (MA) of $8.58, as well as support at its 50-day MA of $7.51.

Over the past year, hhgregg has traded in a range of $5.84 to $13.86 and is now at $7.82, 34% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has remained constant.

By Adrienne Chilton
achilton@fnno.com