Buckle: The Losing Streak Continues (BKE)
Buckle (NYSE:BKE) traded at a new 52-week low today of $20.65. This new low was reached on below average trading volume as 88,000 shares traded hands, while the average 30-day volume is approximately 430,000 shares.
In the past 52 weeks, shares of Buckle have traded between the current low of $20.65 and a high of $47.36 and are now at $20.65. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 0.8%.
The Buckle, Inc. retails medium to better priced casual apparel for young men and women. The Company currently operates retail stores in the United States under the Brass Buckle and The Buckle names. The Buckle markets a wide selection of mostly brand name casual apparel, including denims, tops, sportswear, outerwear, accessories, and shoes.
Buckle has overhead space with shares priced $20.65, or 36.8% below the average consensus analyst price target of $32.67. Buckle shares should first meet resistance at the 50-day moving average (MA) of $31.42 and find additional resistance at the 200-day MA of $33.94.
SmarTrend recommended that its subscribers protect gains by selling shares of Buckle on September 1st, 2016 by issuing a Downtrend alert when the shares were trading at $24.87. Since that call, shares of Buckle have fallen 15.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows buckle