Market Overview

Novell (NOVL) Approaches New Upside Target of $6.09

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(via COMTEX News Network)--

SmarTrend has detected shares of Novell (NASDAQ: NOVL) have bullishly opened above the pivot of $6.04 today and have reached the first resistance level of $6.07.

We are watching for a cross of the next upside pivot targets of $6.09 and $6.14. Also, the shares are currently trading above the 50-day moving average of $5.89 and above the 200-day moving average of $5.64.

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 34.2%.

Write to Chip Brian at cbrian@tradethetrend.com

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