Genworth Financial (GNW) Breaks Through Resistance at $7.31
Shares of Genworth Financial (NYSE:GNW) opened today above their pivot of $7.21 and have already reached the first level of resistance at $7.31. Analysts will be watching for a cross of the next upside pivot targets of $7.41 and $7.61.
Over the past year, Genworth Financial has traded in a range of $4.06 to $9.68 and is now at $7.30, 80% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 2.3%.
Genworth Financial (NYSE:GNW) has potential upside of 9.5% based on a current price of $7.30 and analysts' consensus price target of $8.00. The stock should discover initial support at its 50-day moving average (MA) of $6.13 and subsequent support at its 200-day MA of $5.90.
SmarTrend recommended that subscribers consider buying shares of Genworth Financial on September 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.56. Since that recommendation, shares of Genworth Financial have risen 29.9%. We continue to monitor GNW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts genworth financial