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Downgrade Alert for Whole Foods Market (WFM)

By David Diaz

Whole Foods Market (NASDAQ:WFM) was downgraded from Neutral to Sell at Goldman Sachs today. The stock closed yesterday at $34.11 on volume of 6.5 million shares, above average daily volume of 5.7 million.

Whole Foods Market, Inc. owns and operates a chain of natural food supermarkets in the United States. The Company's stores provides full range of merchandise, featuring products that are free of artificial flavors, sweeteners, colors, preservatives, and added chemicals. Whole Foods also develops, produces, and markets nutriceuticals and nutritional supplements.

In the past 52 weeks, Whole Foods Market share prices have been bracketed by a low of $28.07 and a high of $54.88 and closed yesterday at $34.11, 22% above that low price. The 200-day and 50-day moving averages have moved 0.77% lower and 0.45% lower over the past week, respectively.

Whole Foods Market (NASDAQ:WFM) defies analysts with a current price ($34.11) 13.1% above its average consensus price target of $29.64. Whole Foods Market shares have support at the 200-day moving average (MA) of $31.94 and additional support at the 50-day MA of $31.28.

SmarTrend recommended that subscribers consider buying shares of Whole Foods Market on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.60. Since that recommendation, shares of Whole Foods Market have risen 6.1%. We continue to monitor WFM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Whole Foods Market

Ticker(s): WFM