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Shares of Whole Foods Market Fall Below Previous 52-Week Low

By James Quinn

Whole Foods Market (NASDAQ:WFM) traded at a new 52-week low today of $28.02. So far today approximately 658,000 shares have been exchanged, as compared to an average 30-day volume of 5.7 million shares.

There is potential upside of 5.0% for shares of Whole Foods Market based on a current price of $28.23 and an average consensus analyst price target of $29.64. The stock should run into initial resistance at its 50-day moving average (MA) of $31.28 and subsequent resistance at its 200-day MA of $31.94.

Whole Foods Market, Inc. owns and operates a chain of natural food supermarkets in the United States. The Company's stores provides full range of merchandise, featuring products that are free of artificial flavors, sweeteners, colors, preservatives, and added chemicals. Whole Foods also develops, produces, and markets nutriceuticals and nutritional supplements.

Whole Foods Market share prices have moved between a 52-week high of $54.88 and the current low of $28.02 and are currently at $28.23 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Whole Foods Market on July 28th, 2016 by issuing a Downtrend alert when the shares were trading at $31.09. Since that call, shares of Whole Foods Market have fallen 8.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Whole Foods Market

Ticker(s): WFM