Nash Finch (NASDAQ:NAFC) traded in a range yesterday that spanned from a low of $38.90 to a high of $40.62. Yesterday, the shares gained 1.46%, which took the trading range above the 3-day high of $39.31 on volume of 149,000 shares.
Shares of Nash Finch are currently trading above their 50-day moving average (MA) of $36.21 and above their 200-day MA of $34.40. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Nash Finch and our subscribers were alerted to Buy on July 14, 2010 at $37.71. The stock has risen 5.4% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $39.31 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Food Wholesale industry.