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Look for Shares of Alpha Natural Resources to Potentially Pullback after Yesterday's 9.88% Rise
Mar 06, 2013 (SmarTrend(R) News Watch via COMTEX) --
Alpha Natural Resources (NYSE:ANR) traded in a range yesterday that spanned from a low of $7.58 to a high of $8.58. Yesterday, the shares gained 9.9%, which took the trading range above the 3-day high of $7.96 on volume of 17.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend is monitoring the recent change of momentum in Alpha Natural Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Alpha Natural Resources in search of a potential trend change.
Over the past year, Alpha Natural Resources has traded in a range of $5.28 to $17.79 and is now at $8.45, 60% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.3%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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