PAETEC Holding (NASDAQ:PAET) traded in a range yesterday that spanned from a low of $3.75 to a high of $3.96. Yesterday, the shares fell 0.26%, which took the trading range below the 3-day low of $3.85 on volume of 354,000 shares.
Shares of PAETEC Holding are currently trading below their 200-day moving average (MA) of $4.02 and should find support at their 50-day MA of $3.78. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of PAETEC Holding and our subscribers were alerted to Sell on May 07, 2010 at $4.33. The stock has fallen 10.9% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $3.86 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Telecom Services- Domestic industry.