Market Overview

Massey Energy (MEE) Crosses Pivot Point Resistance at $63.59

(via COMTEX News Network)--

SmarTrend has detected shares of Massey Energy (NYSE: MEE) have bullishly opened above the pivot of $62.30 today and have reached the first resistance level of $63.59.

We are watching for a cross of the next upside pivot targets of $64.55 and $66.80. Also, the shares are currently trading above the 50-day moving average of $57.33 and above the 200-day moving average of $40.62.

In the last five trading sessions, the 50-day MA has climbed 0.74% while the 200-day MA has risen 0.69%.

In the past 52 weeks, shares of Massey Energy have traded between a low of $25.85 and a high of $67.17 and are now at $63.82, which is 147% above that low price.

SmarTrend currently has shares of Massey Energy in an Uptrend and issued the Uptrend alert on January 31, 2011 at $63.37. The stock has risen -1.2% since the Uptrend alert was issued.

Write to Chip Brian at cbrian@tradethetrend.com

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