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Hot Stock: Rentech, Shares Drop 5.2% (RTK)Feb 11, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Rentech (AMEX:RTK) is one of today's worst performing low-priced stocks, down 5.2% to $2.92 on 1.2x average daily volume. Thus far today, Rentech has traded 2.7 million shares, vs. average volume of 2.3 million shares per day. The stock has underperformed the Dow (-5.2% to the Dow's -0.2%) and underperformed the S&P 500 (-5.2% to the S&P's -0.1%) during today's trading. Rentech, Inc. develops and licenses a proprietary and patented process for the conversion of carbon-bearing gases, liquids, and solids into liquid hydrocarbon products. These products include clean burning diesel fuel, naphthas, waxes, petrochemical feedstocks and synthetic lubricant base stock. Rentech's primary business is licensing this process. Over the past year, Rentech has traded in a range of $1.60 to $3.18 and is now at $2.92, 83% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 1.2%. Rentech has overhead space with shares priced $2.92, or 33.9% below the average consensus analyst price target of $4.42. Rentech shares have support at the 50-day moving average (MA) of $2.88 and additional support at the 200-day MA of $2.39. SmarTrend recommended that subscribers consider buying shares of Rentech on January 10th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.94. Since that recommendation, shares of Rentech have risen 4.8%. We continue to monitor RTK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |