Woodward Governor (NASDAQ:WGOV) traded in a range yesterday that spanned from a low of $29.23 to a high of $30.23. Yesterday, the shares gained 2.73%, which took the trading range above the 3-day high of $29.00 on volume of 337,000 shares.
Shares of Woodward Governor are currently trading above their 50-day moving average (MA) of $27.78 and above their 200-day MA of $27.85. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Woodward Governor and our subscribers were alerted to Buy on July 14, 2010 at $28.38. The stock has risen 4.9% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $29.00 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Industrial Electrical Equipment industry.