Genworth Financial (GNW) Breaks Through Support at $8.01
Genworth Financial (NYSE:GNW) has opened bearishly below the pivot of $8.15 today and has reached the first level of support at $8.01. Analysts will be watching for a cross of the next downside pivot targets of $7.92 and $7.69.
In the past 52 weeks, shares of Genworth Financial have traded between a low of $4.06 and a high of $9.68 and are now at $7.92, which is 95% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.2% while the 200-day MA has slid 0.3%.
Genworth Financial has overhead space with shares priced $7.92, or 6.2% below the average consensus analyst price target of $8.44. The stock should discover initial support at its 50-day moving average (MA) of $6.57 and subsequent support at its 200-day MA of $5.86.
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 45.9%. 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