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Watch for Shares of Western Union (WU) to Approach Support at $13.52
Jan 16, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Western Union (NYSE:WU) have bearishly opened below the pivot of $13.74 today and have reached the first support level of $13.60. Analysts will be watching for a cross of the next downside pivot targets of $13.52 and $13.30.
Western Union has overhead space with shares priced $13.63, or 11.6% below the average consensus analyst price target of $15.43. Western Union shares should encounter resistance at the 200-day moving average (MA) of $16.33 and support at the 50-day MA of $13.06.
Western Union share prices have moved between a 52-week high of $19.82 and a 52-week low of $11.93 and are now trading 14% above that low price at $13.63 per share. The 200-day and 50-day moving averages have moved 0.39% lower and 0.25% lower over the past week, respectively.
SmarTrend is tracking the current trend status for Western Union and will alert subscribers who have WU in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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