Aug 17, 2011 (SmarTrend(R) News Watch via COMTEX) -- WuXi PharmaTech Cayman (601988.SH )traded in a range yesterday that spanned from a low of $12.65 to a high of $13.41. Yesterday, the shares fell 0.38%, which took the trading range below the 3-day low of $13.23 on volume of 1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Shares of WuXi PharmaTech Cayman are currently trading below their 50-day moving average (MA) of $16.05 and below their 200-day MA of $16.64. Look for the MA to provide resistance for a short-term rebound in the shares.

SmarTrend currently has shares of WuXi PharmaTech Cayman in an Downtrend and issued the Downtrend alert on July 26, 2011 at $16.04. The stock has fallen 17.1% since the Downtrend alert was issued.

SmarTrend expects the share price to rebound toward the $13.25 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Biotechnology industry.

Source:SmarTrend(R)