Weight Watchers (NYSE:WTW) was upgraded from Hold to Buy at Auriga today. The stock closed yesterday at $62.29 on volume of 6.5 million shares, above average daily volume of 823,000.Over the past year, Weight Watchers has traded in a range of $51.28 to $86.97 and closed yesterday at $62.29, 21% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.There is potential upside of 37.4% for shares of Weight Watchers based on a current price of $62.29 and an average consensus analyst price target of $85.57. The stock should run into initial resistance at its 200-day moving average (MA) of $68.36 and subsequent resistance at its 50-day MA of $77.05.SmarTrend recommended that its subscribers protect gains by selling shares of Weight Watchers on April 9th, 2012 by issuing a Downtrend alert when the shares were trading at $74.69. Since that call, shares of Weight Watchers have fallen 16.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
