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Recent 52-Week Low Surpassed in Shares of Sprouts Farmers (SFM)

By James Quinn

Shares of Sprouts Farmers (NASDAQ:SFM) traded today at $18.52, breaking its 52-week low. This new low was reached on below average trading volume as 167,000 shares traded hands, while the average 30-day volume is approximately 1.2 million shares.

Sprouts Farmers Market, Inc. operates a chain of retail grocery stores. The Company offers meats, cheese, dairy products, bakery, beer and wine, bulk foods, vitamins, and supplements. Sprouts Farmers Market serves customers throughout the United States.

In the past 52 weeks, shares of Sprouts Farmers have traded between the current low of $18.52 and a high of $29.67 and are now at $18.52. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.7%.

Potential upside of 43.4% exists for Sprouts Farmers, based on a current level of $18.52 and analysts' average consensus price target of $26.56. The stock should run into initial resistance at its 50-day moving average (MA) of $20.92 and subsequent resistance at its 200-day MA of $23.91.

SmarTrend recommended that its subscribers protect gains by selling shares of Sprouts Farmers on November 30th, 2018 by issuing a Downtrend alert when the shares were trading at $23.18. Since that call, shares of Sprouts Farmers have fallen 19.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows sprouts farmers

Ticker(s): SFM