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Look for Shares of Cia de Saneamento Basico do Estado de Sao Paulo to Potentially Pullback after Yesterday's 3.08% Rise
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Cia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) traded in a range yesterday that spanned from a low of $71.97 to a high of $73.43. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $71.86 on volume of 503,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Cia de Saneamento Basico do Estado de Sao Paulo has traded in a range of $45.76 to $73.43 and is now at $73.40, 60% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.7%.
SmarTrend recommended that subscribers consider buying shares of Cia de Saneamento Basico do Estado de Sao Paulo on January 4th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.28. Since that recommendation, shares of Cia de Saneamento Basico do Estado de Sao Paulo have risen 22.2%. We continue to monitor SBS 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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