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Buckle: The Losing Streak Continues (BKE)

By Shiri Gupta

Buckle (NYSE:BKE) traded today at a new 52-week low of $22.86. Approximately 72,000 shares have changed hands today, as compared to an average 30-day volume of 430,000 shares.

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 $23.00, or 29.6% below the average consensus analyst price target of $32.67. The stock should find initial resistance at its 50-day moving average (MA) of $31.42 and further resistance at its 200-day MA of $33.94.

Over the past year, Bucklehas traded in a range of $22.86 to $47.36 and are now at $23.00. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Buckle on April 7th, 2016 by issuing a Downtrend alert when the shares were trading at $30.13. Since that call, shares of Buckle have fallen 22.2%. 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

Ticker(s): BKE