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Pinnacle West: The Losing Streak Continues (PNW)

By Amy Schwartz

Shares of Pinnacle West (NYSE:PNW) traded today at $67.27, breaking its 52-week low. So far today approximately 151,000 shares have been exchanged, as compared to an average 30-day volume of 912,000 shares.

Pinnacle West has overhead space with shares priced $69.47, or 17.1% below the average consensus analyst price target of $83.75. The stock should run into initial resistance at its 200-day moving average (MA) of $93.34 and subsequent resistance at its 50-day MA of $95.00.

Pinnacle West Capital Corporation is a utility holding company. The Company, through its subsidiary, provides retail and wholesale electric service to most of the State of Arizona. Pinnacle West Capital through a subsidiary, also is involved in real estate development activities in the western United States.

Over the past year, Pinnacle Westhas traded in a range of $67.27 to $105.51 and are now at $69.47. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

SmarTrend is tracking the current trend status for Pinnacle West and will alert subscribers who have PNW in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows pinnacle west

Ticker(s): PNW