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Downgrade Alert for Whole Foods Market (WFM)

By Nick Russo

Whole Foods Market (NASDAQ:WFM) was downgraded from Neutral to Sell at Northcoast today. The stock closed yesterday at $30.92 on volume of 16.6 million shares, above average daily volume of 5.7 million.

Over the past year, Whole Foods Market has traded in a range of $28.07 to $54.88 and closed yesterday at $30.92, 10% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.4%.

Whole Foods Market (NASDAQ:WFM) defies analysts with a current price ($30.92) 4.1% above its average consensus price target of $29.64. The stock should find initial resistance at its 50-day moving average (MA) of $31.28 and further resistance at its 200-day MA of $31.94.

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.

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

Keywords: analyst upgrades/downgrades Whole Foods Market

Ticker(s): WFM