Cubic (NYSE:CUB) traded in a range yesterday that spanned from a low of $38.22 to a high of $39.66. Yesterday, the shares gained 1.23%, which took the trading range above the 3-day high of $39.11 on volume of 108,000 shares.
Shares of Cubic are currently trading above their 50-day moving average (MA) of $36.79 and above their 200-day MA of $36.81. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Cubic and our subscribers were alerted to Buy on June 21, 2010 at $36.85. The stock has risen 7.3% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $39.11 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Aerospace/Defense industry.