Alumina rises 0.12% on heavy volume from a low of $8.14 to a high of $8.38. Yesterday, the shares gained 0.12%, which took the trading range above the 3-day high of $8.28 on volume of 140,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Shares of Alumina are currently trading above their 50-day moving average （MA） of $7.72 and above their 200-day MA of $6.32. Look for the MA to provide support for a short-term pullback in the shares.
SmarTrend currently has shares of Alumina in an Uptrend and issued the Uptrend alert on June 21, 2010 at $5.83. The stock has risen 42% since the Uptrend alert was issued.
SmarTrend expects the share price to pullback toward the $8.28 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Aluminum industry.
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