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Raven Industries (RAVN) Breaks Through Resistance at $36.81

Written on Mon, 07/26/2010 - 11:27am
By Chip Brian

SmarTrend has detected shares of Raven Industries (NASDAQ:RAVN) have bullishly opened above the pivot of $35.61 today and have reached the first resistance level of $36.81.
We are watching for a cross of the next upside pivot targets of $37.46 and $39.31. Also, the shares should find initial support at the 50-day moving average of $34.63 and further support at the 200-day moving average of $30.74.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Raven Industries on June 30, 2010 at $34.21. Since the call, the stock has fallen -8%.

Keywords: raven industries pivot points

Ticker(s): RAVN

Contact Chip Brian



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