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Estee Lauder (EL) Approaches New Downside Target of $99.27

By Nick Russo

Estee Lauder (NYSE:EL) has opened bearishly below the pivot of $102.43 today and has reached the first level of support at $100.48. Analysts will be watching for a cross of the next downside pivot targets of $99.27 and $96.11.

Over the past year, Estee Lauder has traded in a range of $75.30 to $104.50 and is now at $101.75, 35% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Based on a current price of $101.75, Estee Lauder is currently 1.3% above its average consensus analyst price target of $100.48. The stock should find initial support at its 50-day moving average (MA) of $94.08 and further support at its 200-day MA of $86.98.

SmarTrend recommended that subscribers consider buying shares of Estee Lauder on July 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $98.54. Since that recommendation, shares of Estee Lauder have risen 3.2%. We continue to monitor EL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Estee Lauder

Ticker(s): EL