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Watch for QIAGEN to Rebound after Falling 2.26% Yesterday (QGEN)

Written on Tue, 07/27/2010 - 2:29am
By Chip Brian

QIAGEN (NASDAQ:QGEN) traded in a range yesterday that spanned from a low of $18.50 to a high of $18.90. Yesterday, the shares fell 2.26%, which took the trading range below the 3-day low of $18.95 on volume of 3.9 million shares.
Shares of QIAGEN are currently trading below their 50-day moving average (MA) of $20.45 and below their 200-day MA of $21.80. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of QIAGEN and our subscribers were alerted to Sell on April 28, 2010 at $22.13. The stock has fallen 15.9% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $18.95 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Diagnostic Substances industry.

Keywords: qiagen trading range stock news

Ticker(s): QGEN

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