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Signet Jewelers: The Losing Streak Continues (SIG)

By David Diaz

Signet Jewelers (NYSE:SIG) traded at a new 52-week low today of $12.37. So far today approximately 448,000 shares have been exchanged, as compared to an average 30-day volume of 1.7 million shares.

Over the past year, Signet Jewelershas traded in a range of $12.37 to $71.07 and are now at $12.37. The 200-day and 50-day moving averages have moved 1.99% lower and 1.91% lower over the past week, respectively.

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands.

Potential upside of 179.4% exists for Signet Jewelers, based on a current level of $12.37 and analysts' average consensus price target of $34.56. The stock should find initial resistance at its 50-day moving average (MA) of $17.62 and further resistance at its 200-day MA of $28.35.

SmarTrend recommended that its subscribers protect gains by selling shares of Signet Jewelers on April 12th, 2019 by issuing a Downtrend alert when the shares were trading at $23.51. Since that call, shares of Signet Jewelers have fallen 43.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows signet jewelers

Ticker(s): SIG