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Look for Shares of Toyota Motor to Potentially Rebound after Yesterday's 1.86% Sell Off
Jan 16, 2013 (SmarTrend(R) News Watch via COMTEX) --
Toyota Motor (NYSE:TM) traded in a range yesterday that spanned from a low of $94.20 to a high of $95.49. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $95.30 on volume of 700,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Over the past year, Toyota Motor has traded in a range of $67.27 to $97.55 and is now at $94.65, 41% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.2%.
SmarTrend recommended that subscribers consider buying shares of Toyota Motor on November 16th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.82. Since that recommendation, shares of Toyota Motor have risen 17.9%. We continue to monitor TM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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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