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Cato: The Losing Streak Continues (CATO)

By James Quinn

Shares of Cato (NYSE:CATO) traded today at $17.30, breaking its 52-week low. So far today approximately 72,000 shares have been exchanged, as compared to an average 30-day volume of 106,000 shares.

The Cato Corporation operates women's fashion specialty stores. The apparel specialty stores operate under the names Cato, Cato Fashions, Cato Plus.

In the past 52 weeks, shares of Cato have traded between the current low of $17.30 and a high of $41.52 and are now at $17.30. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Potential upside of 56.1% exists for Cato, based on a current level of $17.30 and analysts' average consensus price target of $27.00. The stock should find initial resistance at its 200-day moving average (MA) of $36.82 and further resistance at its 50-day MA of $37.17.

SmarTrend recommended that its subscribers protect gains by selling shares of Cato on November 28th, 2016 by issuing a Downtrend alert when the shares were trading at $30.89. Since that call, shares of Cato have fallen 43.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows

Ticker(s): CATO