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Palm (PALM) Downgrade Alert, Watch for 6.5% Technical Downtrend Continuation - 11/2/2009 8:47:32 AM

By Chip Brian, SmarTrend Analytics Team
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Palm (NASDAQ:PALM) downgraded to Sell from Hold, $10 target, at Citigroup. The stock closed Friday at $11.61 on volume of 16,432,462 shares, above average daily volume of 13,495,300.

Palm is currently below its 50-day moving average of $15.09 and below its 200-day moving average of $12.02.

SmarTrend is bearish on shares of PALM and our subscribers received a Downtrend alert on October 30, 2009 at $12.42, which has returned 6.5% to date.

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