InfoSpace (NASDAQ:INSP) traded in a range yesterday that spanned from a low of $7.41 to a high of $7.89. Yesterday, the shares fell 3.33%, which took the trading range below the 3-day low of $7.43 on volume of 211,000 shares.
Shares of InfoSpace are currently trading below their 50-day moving average (MA) of $7.93 and below their 200-day MA of $9.23. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of InfoSpace and our subscribers were alerted to Sell on May 07, 2010 at $9.10. The stock has fallen 17.1% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $7.54 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Internet Information Providers industry.