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Downgrade Alert for Whirlpool (WHR)
Feb 01, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) --
Whirlpool (NYSE:WHR) was downgraded from Strong Buy to Outperform at Raymond James today. The stock closed yesterday at $115.38 on volume of 2.8 million shares, above average daily volume of 1.1 million. Whirlpool share prices have moved between a 52-week high of $115.67 and a 52-week low of $52.91 and closed yesterday at 118% above that low price at $115.38 per share. Over the past week, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 1.1%.
Whirlpool Corporation manufactures and markets major home appliances. The Company's principal products include laundry appliances, refrigeration and room air conditioning equipment, cooking appliances, dishwashers, and mixers and other small household appliances. Whirlpool's products are sold worldwide
Potential upside of 3.4% exists for Whirlpool, based on a current level of $115.38 and analysts' average consensus price target of $119.25. The stock should discover initial support at its 50-day moving average (MA) of $103.20 and subsequent support at its 200-day MA of $80.19.
SmarTrend recommended that subscribers consider buying shares of Whirlpool on July 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.28. Since that recommendation, shares of Whirlpool have risen 85.3%. We continue to monitor WHR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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