Watch for Continued Losses in Shares of AgFeed Industries (FEED)

Date:2011-09-14lile  Text Size:

Published on Tue, 09/13/2011 - 14:00
By Mallory Stone in 52 Week high-lows, FEED, 52 week high/lows, agfeed industries, nasdaq:feed

AgFeed Industries (NASDAQ:FEED) traded today at a new 52-week low of $0.87. So far today approximately 424,000 shares have been exchanged, as compared to an average 30-day volume of 1.4 million shares.

AgFeed Industries, Inc. produces and sells additive pre mix and piglet blending feeds to China's domestic animal markets.

AgFeed Industries (NASDAQ:FEED) defies analysts with a current price ($0.86) 100.0% above its average consensus price target of $0.00. AgFeed Industries shares should first meet resistance at the 50-day moving average (MA) of $1.22 and find additional resistance at the 200-day MA of $1.79.

Over the past year, AgFeed Industries has traded in a range of $0.86 to $3.44 and is now at $0.87, 1% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 1.3%.

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