Market Overview

Woori Finance Holdings Downward Momentum Looks to Continue (WF)

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SmarTrend identified a Downtrend for Woori Finance Holdings (NYSE: WF) on October 29, 2010 at $37.73. In approximately 1 month, Woori Finance Holdings has returned 2.9% as of today's recent price of $36.64.

In the past 52 weeks, shares of Woori Finance Holdings have traded between a low of $32.82 and a high of $50.33 and are now at $36.64, which is 12% above that low price.

Woori Finance Holdings is currently below its 50-day moving average of $38.01 and below its 200-day moving average of $38.62. 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 climbed 0.16% while the 200-day MA has remained constant.

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

Write to Chip Brian at cbrian@tradethetrend.com

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