Downgrade Alert for Finish Line (FINL)
Finish Line (NASDAQ:FINL) was downgraded from Buy to Neutral at Citigroup today. The stock closed yesterday at $17.17 on volume of 3.0 million shares, above average daily volume of 1.0 million.
The Finish Line, Inc. is a specialty retailer of men's, women's and children's brand name athletic and leisure footwear, activewear, and accessories. Brand names carried by the Company include Nike, Reebok, K-Swiss, And 1, Asics, adidas, Timberland, New Balance, Saucony, Skechers, and Converse.
Finish Line has overhead space with shares priced $17.17, or 27.1% below the average consensus analyst price target of $23.56. Finish Line shares should first meet resistance at the 50-day moving average (MA) of $19.82 and find additional resistance at the 200-day MA of $21.20.
Finish Line share prices have moved between a 52-week high of $26.16 and a 52-week low of $17.08 and closed yesterday at 1% above that low price at $17.17 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 0.4%.
SmarTrend recommended that its subscribers protect gains by selling shares of Finish Line on October 10th, 2012 by issuing a Downtrend alert when the shares were trading at $21.60. Since that call, shares of Finish Line have fallen 20.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades Finish Line