Watch for Continued Gains in Shares of Warnaco (WRC)
Shares of Warnaco (NYSE:WRC) traded today at $73.24, breaking its 52-week high. So far today approximately 68,000 shares have been exchanged, as compared to an average 30-day volume of 636,000 shares.
The Warnaco Group, Inc. manufactures intimate apparel, menswear, jeanswear, swimwear, and accessories. The Company also owns and operates Speedo Authentic Fitness stores in the United States and Canada. Warnaco's products are sold under various brand names, including Warner's, Olga, Calvin Klein, and Speedo.
Over the past year, Warnaco has traded in a range of $39.19 to $73.24 and is now at $73.16, 87% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.8%.
Warnaco (NYSE:WRC) defies analysts with a current price ($73.16) 11.6% above its average consensus price target of $64.69. Warnaco shares have support at the 50-day moving average (MA) of $70.10 and additional support at the 200-day MA of $53.91.
SmarTrend recommended that subscribers consider buying shares of Warnaco on August 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.75. Since that recommendation, shares of Warnaco have risen 52.8%. We continue to monitor WRC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows warnaco