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Shares of Pier 1 Imports Fall Below Previous 52-Week Low

By Nick Russo

Pier 1 Imports (NYSE:PIR) traded at a new 52-week low today of $2.33. This new low was reached on below average trading volume as 517,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.

There is potential upside of 57.2% for shares of Pier 1 Imports based on a current price of $2.36 and an average consensus analyst price target of $3.71. Pier 1 Imports shares should first meet resistance at the 50-day moving average (MA) of $6.47 and find additional resistance at the 200-day MA of $7.15.

Pier 1 Imports, Inc. retails decorative home furnishings, gifts, and related items. Pier 1 stores are located in the United States, Puerto Rico, Canada, the United Kingdom, and Mexico.

In the past 52 weeks, shares of Pier 1 Imports have traded between the current low of $2.33 and a high of $9.68 and are now at $2.36. Over the last five market days, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has advanced 2.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Pier 1 Imports on December 14th, 2017 by issuing a Downtrend alert when the shares were trading at $4.19. Since that call, shares of Pier 1 Imports have fallen 42.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Pier 1 Imports

Ticker(s): PIR