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SmarTrend Watching for Potential Pullback in Shares of Tata Motors After 6.39% Gain
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Tata Motors (NYSE:TTM) traded in a range yesterday that spanned from a low of $26.70 to a high of $27.94. Yesterday, the shares gained 6.4%, which took the trading range above the 3-day high of $26.30 on volume of 4.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Tata Motors share prices have moved between a 52-week high of $29.06 and a 52-week low of $14.33 and are now trading 94% above that low price at $27.80 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.8%.
SmarTrend recommended that subscribers consider buying shares of Tata Motors on January 4th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.72. Since that recommendation, shares of Tata Motors have risen 39.6%. We continue to monitor TTM 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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