Zumiez Inc. : Moving average as support
By Pierre Gilles de la Londe
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$38.06 | $0 | $36.75 | -100% |
From a fundamental viewpoint, analysts have recently revised upward their EPS estimates, situation which could support a bullish bias.
Technically, shares are in contact with the 50-day moving average which acted as a support during the last trading sessions. This level correspond nearly to the short term pivot point which could also support prices and encourage a new rise. This situation could leads to a recovery toward the USD 41.4 short term resistance.
To conclude, a buying position can be open at the current price in order to reach the USD 41.4 resistance. In case of 50-day moving average breakdown, the trade should be closed.