Uptrend Spotted in Shares of ShengdaTech (SDTH)
SmarTrend identified an Uptrend for ShengdaTech (NASDAQ: SDTH) on February 22, 2010 at $6.43. In approximately 3 weeks, ShengdaTech has returned 8.9% as of Thursday's closing price of $7.00.
ShengdaTech is currently above its 50-day moving average of $6.14 and above its 200-day moving average of $5.80. 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 ShengdaTech shares.
Write to Chip Brian at cbrian@tradethetrend.com
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