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Financial News Network
May 05, 2012 AT 6:21 PM
Whole Foods Market (NASDAQ:WFM) was upgraded from Neutral to Overweight at JP Morgan today. The stock closed yesterday at $90.69 on volume of 7.4 million shares, above average daily volume of 1.4 million.Whole Foods Market (NASDAQ:WFM) is currently priced 2.8% above its average consensus analyst price target of $88.18. The stock should find initial support at its 50-day moving average (MA) of $83.68 and further support at its 200-day MA of $72.39.In the past 52 weeks, Whole Foods Market share prices have been bracketed by a low of $53.32 and a high of $91.06 and closed yesterday at $90.69, 70% above that low price. The 200-day and 50-day moving averages have moved 0.58% higher and 0.47% higher over the past week, respectively.SmarTrend recommended that subscribers consider buying shares of Whole Foods Market on December 2nd, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.79. Since that recommendation, shares of Whole Foods Market have risen 31.8%. We continue to monitor WFM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.