Overhill Farms (AMEX:OFI) traded in a range yesterday that spanned from a low of $6.25 to a high of $6.39. Yesterday, the shares gained 0.32%, which took the trading range above the 3-day high of $6.31 on volume of 73,000 shares.
Shares of Overhill Farms are currently trading above their 50-day moving average (MA) of $6.07 and above their 200-day MA of $5.66. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Overhill Farms and our subscribers were alerted to Buy on February 04, 2010 at $5.12. The stock has risen 22.4% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $6.26 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Processed & Packaged Goods industry.