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Upgrade Alert for Dick's Sporting Goods (DKS)

By David Diaz

Dick's Sporting Goods (NYSE:DKS) was upgraded from Buy to Conviction Buy at Goldman Sachs today. The stock closed yesterday at $41.51 on volume of 3.6 million shares, above average daily volume of 1.3 million.

Dick's Sporting Goods share prices have moved between a 52-week high of $56.94 and a 52-week low of $33.42 and closed yesterday at 24% above that low price at $41.51 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.2%.

Dick's Sporting Goods has overhead space with shares priced $41.51, or 9.9% below the average consensus analyst price target of $46.09. Dick's Sporting Goods shares should first meet resistance at the 200-day moving average (MA) of $44.13 and find additional resistance at the 50-day MA of $45.74.

Dick's Sporting Goods, Inc. is a sporting goods retailer that operates stores primarily in the eastern and central United States. The Company's stores offer a broad selection of brand name sporting goods equipment, apparel, and footwear.

SmarTrend recommended that its subscribers protect gains by selling shares of Dick's Sporting Goods on May 12th, 2016 by issuing a Downtrend alert when the shares were trading at $41.98. Since that call, shares of Dick's Sporting Goods have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades dick's sporting goods

Ticker(s): DKS