SmarTrend Detects Continued Buying Pressure in Shares of Conexant Systems (CNXT)
SmarTrend identified an Uptrend for Conexant Systems (NASDAQ: CNXT) on December 10, 2010 at $1.69. In approximately 3 months, Conexant Systems has returned 40.8% as of today's recent price of $2.38.
In the past 52 weeks, shares of Conexant Systems have traded between a low of $1.32 and a high of $4.25 and are now at $2.38, which is 80% above that low price.
Conexant Systems is currently above its 50-day moving average of $2.15 and above its 200-day moving average of $1.91. 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 2.12% while the 200-day MA has slid 0.26%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Conexant Systems shares.
Write to Chip Brian at cbrian@tradethetrend.com
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