TMCnet News
SUPERVALU (SVU) Crosses Pivot Point Resistance at $3.77Jan 29, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of SUPERVALU (NYSE:SVU) opened today above their pivot of $3.65 and have already reached the first level of resistance at $3.77. Analysts will be watching for a cross of the next upside pivot targets of $3.85 and $4.05. In the past 52 weeks, SUPERVALU share prices have been bracketed by a low of $1.68 and a high of $7.20 and are now at $3.79, 126% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 0.8%. SUPERVALU (NYSE:SVU) defies analysts with a current price ($3.79) 4.4% above its average consensus price target of $3.62. The stock should discover initial support at its 200-day moving average (MA) of $3.42 and subsequent support at its 50-day MA of $2.86. SmarTrend recommended that subscribers consider buying shares of SUPERVALU on August 1st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.51. Since that recommendation, shares of SUPERVALU have risen 46.6%. We continue to monitor SVU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. 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 |