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Universal Electronics (UEIC) Approaches New Downside Target of $17.90

Written on Wed, 07/28/2010 - 9:29am
By Chip Brian

SmarTrend has detected shares of Universal Electronics (NASDAQ:UEIC) have bearishly opened below the pivot of $18.49 today and have reached the first level of support of $18.19.
Should the shares continue to fall, we are monitoring the next support pivots of $17.90 and $17.31. Also, the shares are currently trading below the 50-day moving average of $18.36 and below the 200-day moving average of $21.61.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Universal Electronics on February 19, 2010 at $21.27. Since the call, the stock has fallen 14.9%.

Keywords: universal electronics pivot points

Ticker(s): UEIC

Contact Chip Brian



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