Recent 52-Week High Exceeded in Shares of Conn's (CONN)
Conn's (NASDAQ:CONN) traded at a new 52-week high today of $32.11. This new high was reached on below average trading volume as 275,000 shares traded hands, while the average 30-day volume is approximately 435,000 shares.
Over the past year, Conn's has traded in a range of $13.13 to $32.11 and is now at $32.04, 144% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.4%.
Conn's, Inc. is a specialty retailer of home appliances and consumer electronics through stores in Texas and Louisiana, and via its website. Conn's also offers home office equipment, lawn and garden products, and other home products such as bedding.
Potential upside of 13.1% exists for Conn's, based on a current level of $32.04 and analysts' average consensus price target of $36.25. The stock should discover initial support at its 50-day moving average (MA) of $29.46 and subsequent support at its 200-day MA of $23.41.
SmarTrend recommended that subscribers consider buying shares of Conn's on October 8th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.08. Since that recommendation, shares of Conn's have risen 20.5%. We continue to monitor CONN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows conn's