Recent 52-Week High Exceeded in Shares of Culp (CFI)
Shares of Culp (NYSE:CFI) traded today at $14.04, breaking its 52-week high. So far today approximately 53,000 shares have been exchanged, as compared to an average 30-day volume of 19,000 shares.
Culp (NYSE:CFI) has potential upside of 7.2% based on a current price of $13.99 and analysts' consensus price target of $15.00. The stock should discover initial support at its 50-day moving average (MA) of $12.16 and subsequent support at its 200-day MA of $10.82.
In the past 52 weeks, Culp share prices have been bracketed by a low of $7.67 and a high of $14.04 and are now at $13.99, 82% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.
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.
SmarTrend recommended that subscribers consider buying shares of Culp on July 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.78. Since that recommendation, shares of Culp have risen 27.2%. 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