Taser International (NASDAQ:TASR) traded in a range yesterday that spanned from a low of $4.05 to a high of $4.28. Yesterday, the shares fell 3.29%, which took the trading range below the 3-day low of $4.16 on volume of 539,000 shares.
Shares of Taser International are currently trading below their 50-day moving average (MA) of $4.14 and below their 200-day MA of $5.00. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Taser International and our subscribers were alerted to Sell on March 29, 2010 at $5.99. The stock has fallen 31.3% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $4.16 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Aerospace/Defense industry.