Novell (NOVL) Approaches New Upside Target of $6.27
SmarTrend has detected shares of Novell (NASDAQ: NOVL) have bullishly opened above the pivot of $6.05 today and have reached the first resistance level of $6.18.
We are watching for a cross of the next upside pivot targets of $6.27 and $6.49. Also, the shares are currently trading above the 50-day moving average of $5.92 and above the 200-day moving average of $5.50.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of Novell on January 06, 2010 at $4.53. Since the call, the stock has risen 36.6%.
Write to Chip Brian at cbrian@tradethetrend.com
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