[May 22, 2012] Staples (SPLS) Approaches New Upside Target of $13.66 Tweet May 22, 2012 (SmarTrend(R) News Watch via COMTEX) -- Staples (NASDAQ:SPLS) has opened bullishly above the pivot of $13.22 today and has reached the first level of resistance at $13.51. Analysts will be watching for a cross of the next upside pivot targets of $13.66 and $14.10. Staples share prices have moved between a 52-week high of $17.09 and a 52-week low of $11.94 and are now trading 13% above that low price at $13.50 per share. The 200-day and 50-day moving averages have moved 0.19% lower and 0.83% lower over the past week, respectively. There is potential upside of 25.9% for shares of Staples based on a current price of $13.50 and an average consensus analyst price target of $17.00. Staples shares should first meet resistance at the 200-day moving average (MA) of $14.79 and find additional resistance at the 50-day MA of $15.58. SmarTrend recommended that its subscribers protect gains by selling shares of Staples on April 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $15.45. Since that call, shares of Staples have fallen 13.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]