SmarTrend Detects Continued Buying Pressure in Shares of Adtran (ADTN)
SmarTrend identified an Uptrend for Adtran (NASDAQ: ADTN) on February 17, 2010 at $22.52. In approximately 4 weeks, Adtran has returned 14.2% as of today's recent price of $25.71.
Adtran is currently above its 50-day moving average of $23.00 and above its 200-day moving average of $22.87. 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 Adtran shares.
Write to Chip Brian at cbrian@tradethetrend.com
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