Schnitzer Steel Industries: The Trend Continues Higher (SCHN)
SmarTrend identified an Uptrend for Schnitzer Steel Industries (NASDAQ: SCHN) on February 16, 2010 at $46.87. In approximately 4 weeks, Schnitzer Steel Industries has returned 9.1% as of today's recent price of $51.12.
Schnitzer Steel Industries is currently above its 50-day moving average of $47.79 and above its 200-day moving average of $50.72. 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 Schnitzer Steel Industries shares.
Write to Chip Brian at cbrian@tradethetrend.com
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