Nicor (GAS) Breaks Through Support at $39.48
Nicor (NYSE:GAS) has opened bearishly below the pivot of $39.75 today and has reached the first level of support at $39.48. Should the shares continue to fall, the support pivots of $39.29 and $38.83 will be of interest.
Potential upside of 8.4% exists for Nicor, based on a current level of $39.20 and analysts' average consensus price target of $42.50. Nicor shares should first meet resistance at the 200-day moving average (MA) of $39.31 and find additional resistance at the 50-day MA of $39.40.
In the past 52 weeks, Nicor share prices have been bracketed by a low of $36.59 and a high of $42.88 and are now at $39.20, 7% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Nicor on November 23rd, 2011 by issuing a Downtrend alert when the shares were trading at $53.92. Since that call, shares of Nicor have fallen 26.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: pivot alerts nicor