CHS - potential bottom-picking candidate...note the daily volume trend as this selloff has progressed
the recent selloff lows for CHS are testing the early April '05 intraday highs and daily closes from that timeframe, prior to the April 15, 2005 bearish gap:
http://stockcharts.com/gallery/gv?chs
and testing the bullish support trendline on the Point and Figure chart
a closing price above the current downtrend line would be constructive
note the 3-year history of the 20-week ema relative to the 50-week ema...this is the first time the two ema's have so closely converged...and the first time in three years that the 50-week ema points downward. The 200-week ema is currently $25.40 which is near the bottom of the April 2005 bearish gap...the April 15, 2005 intraday high was $25.68. The weekly RSI currently has the lowest value during this 3-year timeframe.
minimum risk to $23-24
today's news -
8:32AM Chico's FAS announces additional $100 mln for stock repurchase program
UPGRADES & DOWNGRADES HISTORY
Date Research Firm Action From To
15-Mar-06 Lehman Brothers Initiated Overweight
14-Mar-06 Credit Suisse Upgrade Neutral Outperform
13-Mar-06 Nollenberger Capital Upgrade Neutral Buy
10-Mar-06 Sun Trust Rbsn Humphrey Upgrade Neutral Buy
6-Mar-06 Prudential Upgrade Underweight Neutral
2-Mar-06 Prudential Downgrade Neutral Underweight
2-Mar-06 Sanders Morris Harris Downgrade Strong Buy Buy
23-Feb-06 Wedbush Morgan Downgrade Buy Hold
16-Feb-06 Nollenberger Capital Initiated Neutral
4-Nov-05 DA Davidson Downgrade Buy Neutral
Share Statistics
Average Volume (3 month)3: 3,726,770
Average Volume (10 day)3: 4,731,170
Shares Outstanding: 182.01M
Float: 180.17M
% Held by Insiders4: 6.42%
% Held by Institutions4: 84.30%
Shares Short (as of 10-Apr-06)3: 9.83M
Short Ratio (as of 10-Apr-06)3: 3.4
Short % of Float (as of 10-Apr-06)3: 5.50%
Shares Short (prior month)3: 10.15M
Edited by hiker, 16 May 2006 - 10:08 AM.
