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Bel Fuse (BELFB) Approaches New Upside Target of $20.78

Written on Mon, 07/26/2010 - 3:11pm
By Chip Brian

SmarTrend has detected shares of Bel Fuse (NASDAQ:BELFB) have bullishly opened above the pivot of $18.91 today and have reached the first resistance level of $20.16.
We are watching for a cross of the next upside pivot targets of $20.78 and $22.65. Also, the shares should find initial support at the 200-day moving average of $20.05 and further support at the 50-day moving average of $18.14.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Bel Fuse on June 30, 2010 at $16.95. Since the call, the stock has fallen -19%.

Keywords: bel fuse pivot points

Ticker(s): BELFB

Contact Chip Brian
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.

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