TwinTrader.com announces the publication of Breakout for Spartan Stores Inc. (Nasdaq:SPTN), an excerpt highlighting public companies on the move and what’s behind their stock activity.
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Spartan Stores Inc. engages in distributing and retailing groceries primarily in Michigan and Indiana. The company distributes approximately 45,000 stock-keeping units, including dry groceries, produce, dairy products, meat, deli, bakery, frozen food, seafood, floral products, general merchandise, pharmacy and health and beauty care products to approximately 400 independent grocery stores and 84 corporate-owned stores.
The breakout features Spartan Stores’ financial standing and revenue growth of 52.2%. The author writes:
“Money managers investing in equities during a bear market historically move cash into “defensive” sectors such as consumer staples. The balance sheet of Spartan Stores reveals a financially healthy company. The company’s revenue growth reached 52.2% last quarter, and a return on equity topping 17.1%. … The chart of Spartan Stores has bucked the strong downward trend in the major averages. The 50-day moving average trends comfortably above its 200-day moving average. There was notable strength in the stock in yesterday’s move against a backdrop of tremendous losses in the Dow and S&P. Today, the RSI moved into an overbought reading, attracting sellers who pushed the price back below $27. The MACD is very bullish and accelerating.”
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