Watch for Continued Losses in Shares of SunOpta (STKL)
Shares of SunOpta (NASDAQ:STKL) traded at a new 52-week low today of $3.86. This new low was reached on below average trading volume as 122,000 shares traded hands, while the average 30-day volume is approximately 394,000 shares.
SunOpta Inc. owns and operates businesses in the natural and organic food markets. The Company sources, processes, and distributes natural and organic food products. SunOpta also produces, distributes, and recycles environmentally friendly industrial materials. In addition, the Company engineers and markets clean pulping systems.
SunOpta has overhead space with shares priced $3.89, or 57.1% below the average consensus analyst price target of $9.07. SunOpta shares should first meet resistance at the 50-day moving average (MA) of $5.00 and find additional resistance at the 200-day MA of $6.46.
In the past 52 weeks, shares of SunOpta have traded between the current low of $3.86 and a high of $11.39 and are now at $3.89. The 200-day and 50-day moving averages have moved 1.65% lower and 1.16% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of SunOpta on March 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $4.96. Since that call, shares of SunOpta have fallen 18.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows sunopta