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Shares of Cato Has Fallen Below Previous 52-Week Low

By James Quinn

Cato (NYSE:CATO) traded at a new 52-week low today of $19.52. So far today approximately 100,000 shares have been exchanged, as compared to an average 30-day volume of 106,000 shares.

The Cato Corporation operates women's fashion specialty stores. The apparel specialty stores operate under the names Cato, Cato Fashions, Cato Plus.

There is potential upside of 38.0% for shares of Cato based on a current price of $19.57 and an average consensus analyst price target of $27.00. The stock should find initial resistance at its 200-day moving average (MA) of $36.82 and further resistance at its 50-day MA of $37.17.

In the past 52 weeks, shares of Cato have traded between the current low of $19.52 and a high of $41.52 and are now at $19.57. The 200-day and 50-day moving averages have moved 0.13% lower and 0.19% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Cato on November 28th, 2016 by issuing a Downtrend alert when the shares were trading at $30.89. Since that call, shares of Cato have fallen 34.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows

Ticker(s): CATO