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Blackrock Dividend Achievers Trust (BDV) Reaches Initial Resistance Level, Watch for 0.23% Potential Upside Continuation

Written on Fri, 07/09/2010 - 2:40pm
By Chip Brian

SmarTrend has detected shares of Blackrock Dividend Achievers Trust (NYSE:BDV) have bullishly opened above the pivot of $8.48 today and have reached the first resistance level of $8.53.
We are watching for a cross of the next upside pivot targets of $8.56 and $8.64. Also, the shares should find initial resistance at the 50-day moving average of $8.72 and further resistance at the 200-day moving average of $8.83.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of Blackrock Dividend Achievers Trust on May 07, 2010 at $8.45. Since the call, the stock has risen 1.1%.

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