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Watch for Alcatel-Lucent to Potentially Pullback After Gaining 5.02% Yesterday
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.
Over the past year, Alcatel-Lucent has traded in a range of $1.39 to $6.63 and is now at $2.30, 65% above that low. The 200-day and 50-day moving averages have moved 1.85% lower and 1.79% higher over the past week, respectively.
Write to Chip Brian at cbrian@mysmartrend.com
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