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Shares of Craft Brew Allia Fall to a New 52-Week Low

By David Diaz

Craft Brew Allia (NASDAQ:BREW) traded at a new 52-week low today of $11.75. This new low was reached on above average trading volume as 383,000 shares traded hands, while the average 30-day volume is approximately 115,000 shares.

Craft Brew Allia has overhead space with shares priced $11.77, or 43.4% below the average consensus analyst price target of $20.80. The stock should run into initial resistance at its 50-day moving average (MA) of $14.59 and subsequent resistance at its 200-day MA of $15.18.

Craft Brew Alliance Inc. operates breweries that offers a wide assortment of beers. The Company owns and operates production breweries with adjacent restaurants and pubs in parts of the United States.

Over the past year, Craft Brew Alliahas traded in a range of $11.75 to $19.65 and are now at $11.77. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Craft Brew Allia on August 5th, 2019 by issuing a Downtrend alert when the shares were trading at $14.82. Since that call, shares of Craft Brew Allia have fallen 12.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows craft brew allia

Ticker(s): BREW