LONGWEI PETROLEUM: NEW 52-WEEK LOW SET TODAY (LPH)

Date:2011-08-30     Source:xuxinlile  Text Size:

Aug 29, 2011 (SmarTrend(R) Market Surveillance via COMTEX) -- Shares of Longwei Petroleum (AMEX:LPH) traded at a new 52-week low Friday of $1.08. Approximately 432,000 shares have traded hands Friday vs. average 30-day volume of 214,000 shares.

Longwei Petroleum closed at $1.09, approximately 27.3% below its 50-day moving average of $1.50. SmarTrend will be monitoring shares of LPH to see if this bearish momentum will continue.

In the last five trading sessions, the 50-day MA has fallen 1.15% while the 200-day MA has slid 2.28%.

In the past 52 weeks, shares of Longwei Petroleum have traded between a low of $1.10 and a high of $3.95 and are now at $1.09, which is 28% of that high price.

SmarTrend currently has shares of Longwei Petroleum in an Downtrend and issued the Downtrend alert on August 08, 2011 at $1.30. The stock has fallen 12.6% since the Downtrend alert was issued.

Write to Chip Brian at cbrian@mysmartrend.com

---------------------------------------------------------------------------------------------

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

Copyright, Comtex News Network, Inc. 2011

2005-2011 www.researchinchina.com All Rights Reserved 京ICP备05069564号-1