Wonder Auto Technology (NASDAQ:WATG) traded in a range yesterday that spanned from a low of $7.91 to a high of $8.33. Yesterday, the shares fell 1.11%, which took the trading range below the 3-day low of $8.00 on volume of 502,000 shares.
Shares of Wonder Auto Technology are currently trading below their 200-day moving average (MA) of $10.57 and should find support at their 50-day MA of $7.89. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Wonder Auto Technology and our subscribers were alerted to Sell on May 05, 2010 at $10.57. The stock has fallen 24.2% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $8.01 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Auto Parts industry.