Technical Setups: Winn-Dixie, Regal-Beloit
On the other end of the spectrum is Winn-Dixie (WINN), a stock that's fallen nearly 30% from price levels seen earlier this year.
Many of this grocery retailer's woes have been predicated on poor earnings guidance - the result of continued economic lag in the chain's geographic base. But shares could soon be headed much higher before 2011.
>>Who Owns Winn-Dixie?: Leucadia
Winn Dixie hit a double bottom back in the beginning of November, a signal that a stock's trend is due to reverse course. Since then, Winn-Dixie has moved to just below a major resistance level, consolidating as the 50-day moving average moves in as a newfound support level.As things stand, Winn-Dixie looks well suited for a push above resistance, which currently sits right above $7.25. If shares can make a sustained move above that level, a price target of $8 seems realistic in the short-term. >>Also: Cramer's Retail Winners
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