PetSmart (PETM) Stock Trades Below the 50-Day Moving Average
Published on 07/28/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- Shares of PetSmart closed below the 50-day moving average of $31.63.
Technical analysts and investors who study trading patterns will view this development as a sign of weakness.
The price when compared to the moving average can be used as an indicator to determine the trend.
Today's closing price of $31.48 $0.41(-1.27%) may indicate that PETM may head lower in the foreseeable
future assuming the moving average continues to decrease. On the volume side, 625,529 shares exchanged hands
versus the average volume of 1,210,480. Today, the stock price ranged between $31.33 - $32.60 and the stock's 52 week low
is 19.5 and the high is 34.93.
Other relevant figures to examine are the support and resistance levels. Based on the pivot points, the current support
and resistance levels for PETM are 31.00 and 32.27 respectively. If the support point price is broken in an downward movement, then the bearish trend is likely to continue and vice versa.
Disclaimer: The material presented in this commentary is provided for informational purposes only and is based upon information that is
considered to be reliable. Neither Market Intellisearch nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as
such. Neither Market Intellisearch nor its affiliates are responsible for any errors or for results obtained from the use of this information.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial
instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without
notice. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly
consider seeking advice from your own financial or investment adviser.
