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Watch for Continued Losses in Shares of Fossil (FOSL)

By Amy Schwartz

Shares of Fossil (NASDAQ:FOSL) traded at a new 52-week low today of $26.51. This new low was reached on above average trading volume as 5.1 million shares traded hands, while the average 30-day volume is approximately 943,000 shares.

Fossil has overhead space with shares priced $27.73, or 38.9% below the average consensus analyst price target of $45.42. The stock should find initial resistance at its 50-day moving average (MA) of $43.92 and further resistance at its 200-day MA of $47.12.

Over the past year, Fossilhas traded in a range of $26.51 to $86.50 and are now at $27.73. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 1%.

Fossil, Inc. designs, develops, markets, and distributes consumer fashion accessories. The Company's products include an extensive line of men's and women's fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, and apparel.

SmarTrend recommended that its subscribers protect gains by selling shares of Fossil on March 29th, 2016 by issuing a Downtrend alert when the shares were trading at $43.18. Since that call, shares of Fossil have fallen 7.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows fossil

Ticker(s): FOSL