Recent 52-Week High Exceeded in Shares of Constellation Brands (STZ)
Shares of Constellation Brands (NYSE:STZ) traded at a new 52-week high today of $60.59. So far today approximately 1.1 million shares have been exchanged, as compared to an average 30-day volume of 1.5 million shares.
Constellation Brands has overhead space with shares priced $60.24, or 7.7% below the average consensus analyst price target of $65.29. The stock should discover initial support at its 50-day moving average (MA) of $55.45 and subsequent support at its 200-day MA of $47.94.
Over the past year, Constellation Brands has traded in a range of $28.37 to $60.59 and is now at $60.24, 112% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.6%.
Constellation Brands, Inc. produces and markets beverage alcohol in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.
SmarTrend recommended that subscribers consider buying shares of Constellation Brands on February 14th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.12. Since that recommendation, shares of Constellation Brands have risen 38.3%. We continue to monitor STZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows Constellation Brands