Aug 23, 2011 (SmarTrend(R) News Watch via COMTEX) -- Aluminum of China  traded in a range yesterday that spanned from a low of $15.51 to a high of $16.00. Yesterday, the shares fell 1.77%, which took the trading range below the 3-day low of $15.79 on volume of 353,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Shares of Aluminum of China are currently trading below their 50-day moving average (MA) of $19.87 and below their 200-day MA of $22.52. Look for the MA to provide resistance for a short-term rebound in the shares.

SmarTrend currently has shares of Aluminum of China in an Downtrend and issued the Downtrend alert on August 05, 2011 at $18.80. The stock has fallen 15.9% since the Downtrend alert was issued.

SmarTrend expects the share price to rebound toward the $15.79 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Aluminum industry.

Source:zacks