Century Aluminum (NASDAQ:CENX) traded in a range yesterday that spanned from a low of $11.66 to a high of $12.46. Yesterday, the shares fell 5.99%, which took the trading range below the 3-day low of $11.94 on volume of 5.1 million shares.
Shares of Century Aluminum are currently trading below their 50-day moving average (MA) of $14.53 and below their 200-day MA of $12.30. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Century Aluminum and our subscribers were alerted to Sell on May 03, 2010 at $13.37. The stock has fallen 10.8% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $11.94 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Aluminum industry.
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