Brown Shoe (NYSE:BWS) traded in a range yesterday that spanned from a low of $14.08 to a high of $14.95. Yesterday, the shares fell 2.57%, which took the trading range below the 3-day low of $14.34 on volume of 591,000 shares.
Shares of Brown Shoe are currently trading below their 50-day moving average (MA) of $15.91 and should find support at their 200-day MA of $13.77. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Brown Shoe and our subscribers were alerted to Sell on July 01, 2010 at $14.85. The stock has fallen 2.9% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $14.42 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Textile- Apparel Footwear & Accessories industry.