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Supervalu: Closing position, due to bear hug chart

Posted Aug 18th 2009 5:50PM by Joseph Lazzaro (RSS feed)

I'm closing my recommended Buy position with Supervalu (NYSE: SVU), first recommended on April 22, 2009 at a price of $14.98.

Grocer/food distributor Supervalu's shares have drifted lower over the past six months, and traded below its 50-day moving average for more than a month twice -- a bearish sign.

Continue reading Supervalu: Closing position, due to bear hug chart

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