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Barnes & Noble (BKS – 19-1/2) operates almost 1,000 bookstores, making it the largest bookseller in the United States, with a 15-percent market share.
Today, the retailer has pushed two percent higher after announcing a positive earnings forecast for the third quarter. Ahead of the opening bell, BKS officials said that its third-quarter earnings should match Wall Street estimates. Additionally, same-store sales for the three-month period will likely show a 5.6-percent increase. The company is due to report its financial numbers on November 16 (next Thursday).
Since October 25, BKS has been muscling steadily higher, appreciating over 16 percent and overtaking its 10-day and 20-day moving averages. The stock is now butting up against its 20-week trendline, which has resided overhead since the last week of September. BKS is also flirting with resistance at its 10-month moving average. Both of these trendlines are perched around the 19-1/2-to-19-3/4 region.