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Watch for Continued Losses in Shares of Guess? (GES)

By Shiri Gupta

Guess? (NYSE:GES) traded at a new 52-week low today of $9.60. Approximately 242,000 shares have changed hands today, as compared to an average 30-day volume of 796,000 shares.

Potential upside of 69.5% exists for Guess?, based on a current level of $9.61 and analysts' average consensus price target of $16.29. The stock should find initial resistance at its 50-day moving average (MA) of $19.19 and further resistance at its 200-day MA of $20.12.

Guess?, Inc. designs, markets, distributes, and licenses a collection of casual apparel, accessories, and related consumer products. The Company's apparel for men, women, and girls is marketed under trademarks such as Guess?, Guess U.S.A., and Triangle Design. Guess? provides full collections of denim and cotton clothing and has granted licenses to manufacture complementary products.

In the past 52 weeks, shares of Guess? have traded between the current low of $9.60 and a high of $23.45 and are now at $9.61. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Guess? on December 1st, 2016 by issuing a Downtrend alert when the shares were trading at $13.54. Since that call, shares of Guess? have fallen 28.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows guess?

Ticker(s): GES