Downtrend Spotted in Shares of Goodrich Petroleum (GDP)
SmarTrend identified a Downtrend for Goodrich Petroleum (NYSE: GDP) on January 12, 2010 at $23.39. In approximately 2 months, Goodrich Petroleum has returned 18.9% as of today's recent price of $18.96.
Goodrich Petroleum is currently below its 50-day moving average of $21.11 and below its 200-day moving average of $24.21. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Goodrich Petroleum.
Write to Chip Brian at cbrian@tradethetrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.mysmartrend.com/signup
