Aluminum of China traded in a range yesterday that spanned from a low of $18.43 to a high of $19.09. Yesterday, the shares fell 11.10%, which took the trading range below the 3-day low of $19.52 on volume of 1.4 million shares.
Shares of Aluminum of China are currently trading below their 50-day moving average (MA) of $25.20 and below their 200-day MA of $27.29. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Aluminum of China and our subscribers were alerted to Sell on April 27, 2010 at $24.91. The stock has fallen 26% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $19.52 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Aluminum industry.
豫公网安备41010502003434号