Sep 08, 2011 (SmarTrend(R) News Watch via COMTEX) -- Synutra International (NASDAQ:SYUT - Snapshot Report) traded in a range yesterday that spanned from a low of $4.63 to a high of $4.90. Yesterday, the shares fell 1.45%, which took the trading range below the 3-day low of $4.76 on volume of 105,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Shares of Synutra International are currently trading below their 50-day moving average (MA) of $8.15 and below their 200-day MA of $10.78. Look for the MA to provide resistance for a short-term rebound in the shares.
SmarTrend currently has shares of Synutra International in an Downtrend and issued the Downtrend alert on February 07, 2011 at $11.50. The stock has fallen 57.9% since the Downtrend alert was issued.
SmarTrend expects the share price to rebound toward the $4.77 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Food- Major Diversified industry.
Write to Chip Brian at cbrian@mysmartrend.com
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Source:zacks