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Shares of Michaels Cos Inc Fall to a New 52-Week Low

By James Quinn

Michaels Cos Inc (NASDAQ:MIK) traded at a new 52-week low today of $5.44. Approximately 348,000 shares have changed hands today, as compared to an average 30-day volume of 3 million shares.

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.

In the past 52 weeks, shares of Michaels Cos Inc have traded between the current low of $5.44 and a high of $22.15 and are now at $5.44. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 2.4%.

Michaels Cos Inc (NASDAQ:MIK) has potential upside of 322.8% based on a current price of $5.44 and analysts' consensus price target of $23.00. The stock should find initial resistance at its 50-day moving average (MA) of $7.94 and further resistance at its 200-day MA of $12.23.

SmarTrend recommended that its subscribers protect gains by selling shares of Michaels Cos Inc on January 30th, 2019 by issuing a Downtrend alert when the shares were trading at $14.00. Since that call, shares of Michaels Cos Inc have fallen 58.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows michaels cos inc

Ticker(s): MIK