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Alcatel-Lucent Rises 5.02% on Heavy Volume: Watch For Potential Pullback
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Alcatel-Lucent (NYSE:ALU) traded in a range yesterday that spanned from a low of $2.22 to a high of $2.32. Yesterday, the shares gained 5.0%, which took the trading range above the 3-day high of $2.26 on volume of 29.4 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 recommended that subscribers consider buying shares of Alcatel-Lucent on January 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.99. Since that recommendation, shares of Alcatel-Lucent have risen 10.1%. We continue to monitor ALU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, Alcatel-Lucent share prices have been bracketed by a low of $1.39 and a high of $6.63 and are now at $2.30, 65% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has advanced 1.8%.
Write to Chip Brian at cbrian@mysmartrend.com
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