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Downgrade Alert for Smith & Wesson (SWHC)
Dec 19, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) --
Smith & Wesson (NASDAQ:SWHC) was downgraded from Buy to Neutral at CL King today. The stock closed yesterday at $7.79 on volume of 22.1 million shares, above average daily volume of 3.9 million. Smith & Wesson Holding Corporation produces handguns, law enforcement products, and firearm safety and security products. The Company also manufactures handcuffs, and markets Smith & Wesson branded bicycles, apparel, and other products. Smith & Wesson's products are sold to law enforcement personnel, military personnel, target shooters, and collectors throughout the world.
Smith & Wesson has overhead space with shares priced $7.79, or 40.1% below the average consensus analyst price target of $13.00. Smith & Wesson shares should first meet resistance at the 200-day moving average (MA) of $8.64 and find additional resistance at the 50-day MA of $9.99.
Smith & Wesson share prices have moved between a 52-week high of $11.25 and a 52-week low of $3.83 and closed yesterday at 103% above that low price at $7.79 per share. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has declined 1.3%.
SmarTrend is monitoring the recent change of momentum in Smith & Wesson. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Smith & Wesson in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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