Luxottica'​s shares potential upside of 26.7%

Luxottica (NYSE:LUX), a company whose shares are moving quickly,

is trading 5.1% higher to $27.63. The S&P is currently trading 2.4% higher to 1,234 in a moment when the Dow Jones Industrial Average is trading 2.2% higher to 12,023.

In the past 52 weeks, shares of Luxottica have traded between a low of $23.99 and a high of $34.43 and are now at $27.63, which is 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

Potential upside of 26.7% exists for Luxottica, based on a current level of $27.63 and analysts' average consensus price target of $35.00. The stock should find initial resistance at its 50-day moving average (MA) of $28.41 and further resistance at its 200-day MA of $29.97.

The world’s largest eyewear maker on Oct. 24 reported third-quarter earnings growth that exceeded analysts’ estimates. Chief Executive Officer Andrea Guerra said he sees “significant opportunities for growth.” The company’s 10 percent share-price drop this year compares with the 28 percent slump of the benchmark FTSE-MIB stock index.

Luxottica Group S.p.A. and its subsidiaries design, manufacture, distribute, and market traditional and designer eyeglass frames and sunglasses. The Company's LensCrafter retail chain of optical stores operates in North America. Luxottica distributes its products around the world. The Company also sells sunglasses through its Sunglass Hut retail chain.