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After Yesterday's Rally of 0.75%, Brown-Forman Shares Could Pullback (BF.B)

Written on Wed, 07/28/2010 - 2:39am
By Chip Brian

Brown-Forman (NYSE:BF.B) traded in a range yesterday that spanned from a low of $64.09 to a high of $65.05. Yesterday, the shares gained 0.75%, which took the trading range above the 3-day high of $64.18 on volume of 255,000 shares.
Shares of Brown-Forman are currently trading above their 50-day moving average (MA) of $58.72 and above their 200-day MA of $54.90. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Brown-Forman and our subscribers were alerted to Buy on June 10, 2010 at $58.84. The stock has risen 9.8% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $64.18 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Beverages- Brewery & Alcohol industry.

Keywords: brown-forman trading range stock news

Ticker(s): BF.B

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