Sears Holdings Corp. (SHLD) Breaches Below 200 Day MA Level

The top U.S. appliance seller Sears Holdings Corp. SHLD said Thursday that its fiscal first-quarter profit fell 38% after it increased discounts to promote appliances at its domestic chain, while demand for its tools and home electronics declined. Sears Holding Corp. (SHLD) reported a net income of $16 million for the quarter ended May 1, as against $26 million in the comparative period a year ago. Sears Holdings Corp. (SHLD) has decisively breached its support line of 200 day MA of $90.12 in the early afternoon trading, as the stock reels under pressure around $89.60. The head and shoulders pattern on the chart is pointing towards an even lower support in Sears Holdings Corp. (SHLD).