Banco Santander Shares Down 18.4% Since SmarTrend Said Sell (STD)

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(via COMTEX News Network)--

SmarTrend identified a Downtrend for Banco Santander STD on March 10, 2011 at $11.21. In approximately 5 months, Banco Santander has returned 18.4% as of today's recent price of $9.15.

In the past 52 weeks, shares of Banco Santander have traded between a low of $9.39 and a high of $13.75 and are now at $9.15, which is -3% above that low price.

Banco Santander is currently below its 50-day moving average of $10.94 and below its 200-day moving average of $11.48. Look for these moving averages to decline to confirm the company's downward momentum.

In the last five trading sessions, the 50-day MA has fallen 0.82% while the 200-day MA has slid 0.47%.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Banco Santander.

Write to Chip Brian at cbrian@mysmartrend.com

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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

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