Joe's Jeans (NASDAQ:JOEZ) traded in a range yesterday that spanned from a low of $1.92 to a high of $2.03. Yesterday, the shares fell 4.17%, which took the trading range below the 3-day low of $1.98 on volume of 493,000 shares.
Shares of Joe's Jeans are currently trading below their 50-day moving average (MA) of $2.11 and should find support at their 200-day MA of $1.92. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Joe's Jeans and our subscribers were alerted to Sell on April 28, 2010 at $2.50. The stock has fallen 21.8% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $1.98 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Textile- Apparel Clothing industry.