• Return to Headlines

Watch for Shares of Universal Forest Products (UFPI) to Approach Resistance at $33.10

Written on Tue, 07/27/2010 - 12:02pm
By Chip Brian

SmarTrend has detected shares of Universal Forest Products (NASDAQ:UFPI) have bullishly opened above the pivot of $31.97 today and have reached the first resistance level of $32.71.
We are watching for a cross of the next upside pivot targets of $33.10 and $34.23. Also, the shares are currently trading below the 50-day moving average of $33.30 and below the 200-day moving average of $36.81.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Universal Forest Products on May 05, 2010 at $40.42. Since the call, the stock has fallen 18.5%.

Keywords: universal forest products pivot points

Ticker(s): UFPI

Contact Chip Brian



Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup.