Market Overview

SmarTrend Detects Continued Buying Pressure in Shares of Telefonos de Mexico (TMX)

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(via COMTEX News Network)--

SmarTrend identified an Uptrend for Telefonos de Mexico (NYSE: TMX) on July 09, 2010 at $14.78. In approximately 6 months, Telefonos de Mexico has returned 11.2% as of today's recent price of $16.44.

In the past 52 weeks, shares of Telefonos de Mexico have traded between a low of $13.00 and a high of $17.27 and are now at $16.44, which is 26% above that low price.

Telefonos de Mexico is currently above its 50-day moving average of $15.90 and above its 200-day moving average of $15.03. Look for these moving averages to climb to confirm the company's upward momentum.

In the last five trading sessions, the 50-day MA has climbed 0.77% while the 200-day MA has risen 0.16%.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Telefonos de Mexico shares.

Write to Chip Brian at cbrian@tradethetrend.com

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