December 1, 2011
Imperial Sugar (NASDAQ:IPSU) plunged to lose $1.08 or 19.64% per share and established its new 52-low at $4.36.
Over the past trading week, the company’s 50-day moving average has lost 1.9%. while its200-day moving average decreased by 0.7%. The sudden drop in price has led to the increasing trading volume of 2.05 million shares as compared to the average daily of 285,247. Over the recent year the company shares reached its peak price at $25.86. The analysts expect the stock to hit the initial resistance at its 50-day moving average of $6.37 and further reach a new resistance stage at its 200-day moving average of $12.48.
Imperial Sugar Company is involved in the Food processing industry and deals with refining, marketing, packaging and distributing cane sugar.