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Recent 52-Week High Exceeded in Shares of Culp (CFI)

By Shiri Gupta

Culp (NYSE:CFI) traded at a new 52-week high today of $29.16. This new high was reached on approximately average trading volume as 57,000 shares traded hands, while the average 30-day volume is approximately 79,000 shares.

Culp share prices have moved between a 52-week high of $29.16 and a 52-week low of $16.60 and are now trading 76% above that low price at $29.14 per share. The 200-day and 50-day moving averages have moved 0.51% higher and 1.20% higher over the past week, respectively.

Culp, Inc. manufactures and markets upholstery fabrics and mattress tickings for use in furniture and bedding industries. The Company's fabrics are used in the production of residential and commercial furniture and bedding products, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, office seating, panel systems, and mattress sets.

Culp (NYSE:CFI) is currently priced 0.5% above its average consensus analyst price target of $29.00. The stock should find initial support at its 50-day moving average (MA) of $23.21 and further support at its 200-day MA of $19.92.

SmarTrend recommended that subscribers consider buying shares of Culp on February 20th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.76. Since that recommendation, shares of Culp have risen 31.1%. We continue to monitor CFI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Culp

Ticker(s): CFI