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Trading Lower on Heavy Volume are Shares of Beam on 1.7x Above-Average Volume (BEAM)

Published on Fri, 02/01/2013 - 14:13
By Robert Cotter

Beam's stock is down 1.4% to $60.51 on heavy trading volume. Approximately 1.2 million shares have changed hands today vs. average 30-day volume of 697,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Beam (NYSE:BEAM) has potential upside of 6.5% based on a current price of $60.51 and analysts' consensus price target of $64.44. The stock should find initial support at its 50-day moving average (MA) of $59.74 and further support at its 200-day MA of $59.13.

Beam share prices have moved between a 52-week high of $64.00 and a 52-week low of $51.92 and are now trading 17% above that low price at $60.51 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

Beam, Inc. owns and distributes liquor brands. The Company markets bourbon, liqueur, rye, vodka, scotch, rum, gin, brandy, cognac, cordials, tequila, and sherry worldwide.

By Robert Cotter
rcotter@fnno.com