Sep 14, 2011 (SmarTrend(R) Market Surveillance via COMTEX) -- SmarTrend's candlestick pattern scanner has detected a potential bullish inside day candle pattern for shares of AgFeed Industries (NASDAQ:FEED). Today's price range of 0.85 and 0.86 is within yesterday's price range.
This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend.
Traders and investors interested in shares of AgFeed Industries may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
In the last five trading sessions, the 50-day MA has fallen 1.44% while the 200-day MA has slid 1.34%.
In the past 52 weeks, shares of AgFeed Industries have traded between a low of $0.83 and a high of $3.44 and are now at $0.86, which is 4% above that low price.
SmarTrend issued a Downtrend alert on shares of AgFeed Industries on August 03, 2011 at $1.27 per share (32.5% return since that call). This bullish candle pattern may point to a reversal of the previously called Downtrend.
Write to Chip Brian at cbrian@mysmartrend.com
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