SmarTrend Vindicated on Harbin Electric Uptrend Call: Stock Price Up 27.4% (HRBN)

SmarTrend identified an Uptrend for Harbin Electric HRBN on June 20, 2011 at $13.08. In approximately 2 months, Harbin Electric has returned 27.4% as of today's recent price of $16.67.

In the past 52 weeks, shares of Harbin Electric have traded between a low of $5.82 and a high of $25.05 and are now at $16.67, which is 186% above that low price.

Harbin Electric is currently above its 50-day moving average of $16.10 and should find resistance at its 200-day moving average of $17.92. 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 remained constant while the 200-day MA has slid 0.5%.

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

Write to Chip Brian at cbrian@mysmartrend.com

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