Constellation-A (NYSE:STZ) has opened bearishly below the pivot of $184.96 today and has reached the first level of support at $182.72. Investors may be interested in a cross of the next downside pivot targets of $179.69 and $174.42.
Potential upside of 36.4% exists for Constellation-A, based on a current level of $185.74 and analysts’ average consensus price target of $253.29. The stock should run into initial resistance at its 200-day moving average (MA) of $190.19 and subsequent resistance at its 50-day MA of $197.59.
Constellation-A share prices have moved between a 52-week high of $234.26 and a 52-week low of $150.37 and are now trading 24% above that low price at $185.74 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.
SmarTrend recommended that its subscribers protect gains by selling shares of Constellation-A on May 24th, 2019 by issuing a Downtrend alert when the shares were trading at $197.85. Since that call, shares of Constellation-A have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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