West Pharmaceutical Services (NYSE:WST) traded in a range yesterday that spanned from a low of $34.49 to a high of $35.67. Yesterday, the shares fell 2.29%, which took the trading range below the 3-day low of $34.54 on volume of 144,000 shares.
Shares of West Pharmaceutical Services are currently trading below their 50-day moving average (MA) of $38.15 and below their 200-day MA of $39.40. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of West Pharmaceutical Services and our subscribers were alerted to Sell on April 27, 2010 at $41.44. The stock has fallen 16.5% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $34.61 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Medical Products industry.