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Watch for Shares of SUPERVALU (SVU) to Approach Support at $4.75

By Amy Schwartz

Shares of SUPERVALU (NYSE:SVU) have bearishly opened below the pivot of $5.10 today and have reached the first support level of $4.88. Should the shares continue to fall, the support pivots of $4.75 and $4.40 will be of interest.

In the past 52 weeks, shares of SUPERVALU have traded between a low of $3.94 and a high of $9.37 and are now at $4.99, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has remained constant.

SUPERVALU has overhead space with shares priced $4.99, or 49.0% below the average consensus analyst price target of $9.78. The stock should find initial resistance at its 50-day moving average (MA) of $5.43 and further resistance at its 200-day MA of $6.47.

SmarTrend is tracking the current trend status for SUPERVALU and will alert subscribers who have SVU in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts SuperValu

Ticker(s): SVU