Otter Tail (NASDAQ:OTTR) traded in a range yesterday that spanned from a low of $19.28 to a high of $19.70. Yesterday, the shares fell 1.12%, which took the trading range below the 3-day low of $19.32 on volume of 112,000 shares.
Shares of Otter Tail are currently trading below their 50-day moving average (MA) of $19.95 and below their 200-day MA of $22.09. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Otter Tail and our subscribers were alerted to Sell on May 06, 2010 at $20.65. The stock has fallen 6% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $19.42 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Electric Utilities industry.