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Shares of Michaels Cos Inc Fall Below Previous 52-Week Low

By Shiri Gupta

Michaels Cos Inc (NASDAQ:MIK) traded at a new 52-week low today of $10.61. So far today approximately 211,000 shares have been exchanged, as compared to an average 30-day volume of 2.3 million shares.

Michaels Cos Inc (NASDAQ:MIK) has potential upside of 116.8% based on a current price of $10.61 and analysts' consensus price target of $23.00. The stock should run into initial resistance at its 50-day moving average (MA) of $11.97 and subsequent resistance at its 200-day MA of $15.13.

Michaels Cos Inc share prices have moved between a 52-week high of $22.15 and the current low of $10.61 and are currently at $10.61 per share. The 200-day and 50-day moving averages have moved 1.25% lower and 1.62% lower over the past week, respectively.

The Michaels Cos Inc., together with its subsidiaries, operates as a arts and crafts specialty retailer in North America. The Company provides materials, project ideas and education for creative activities.

SmarTrend is tracking the current trend status for Michaels Cos Inc and will alert subscribers who have MIK in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows michaels cos inc

Ticker(s): MIK