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Watch for Shares of Big Lots Inc (BIG) to Approach Support at $35.12

By James Quinn

Shares of Big Lots Inc (NYSE:BIG) opened today below their pivot of $35.44 and have already reached the first level of support at $35.29. Analysts will be watching for a cross of the next downside pivot targets of $35.12 and $34.80.

In the past 52 weeks, Big Lots Inc share prices have been bracketed by a low of $26.21 and a high of $50.35 and are now at $35.45, 35% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.9%.

Big Lots Inc has overhead space with shares priced $35.45, or 36.0% below the average consensus analyst price target of $55.36. The stock should find resistance at its 200-day moving average (MA) of $39.11, as well as support at its 50-day MA of $31.91.

SmarTrend recommended that subscribers consider buying shares of Big Lots Inc on February 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.39. Since that recommendation, shares of Big Lots Inc have risen 9.2%. We continue to monitor BIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts big lots inc

Ticker(s): BIG