SmarTrend Detects Continued Buying Pressure in Shares of Sinclair Broadcast Group (SBGI)
SmarTrend identified an Uptrend for Sinclair Broadcast Group (NASDAQ: SBGI) on December 29, 2009 at $4.34. In approximately 2 months, Sinclair Broadcast Group has returned 30.6% as of today's recent price of $5.67.
Sinclair Broadcast Group is currently above its 50-day moving average of $5.01 and above its 200-day moving average of $3.41. Look for these moving averages to climb to confirm the company's upward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Sinclair Broadcast Group shares.
Write to Chip Brian at cbrian@tradethetrend.com
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