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Technical Analysis
- 11/20/2009 8:55:09 AM
By Chip Brian, SmarTrend Analytics Team
Fred's (NASDAQ:FRED) downgraded to Underweight from Neutral, $8 target, at JP Morgan. The stock closed yesterday at $10.57 on volume of 218,000 shares, below average daily volume of 259,774.
Fred's is currently below its 50-day moving average of $12.26 and below its 200-day moving average of $12.24.
SmarTrend is bearish on shares of FRED and our subscribers received a Downtrend alert on August 07, 2009 at $12.14, which has returned 12.9% to date.
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