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Ultra Petroleum (UPL) Upgrade Alert, Watch for 9% Technical Downtrend Reversal - 11/3/2009 8:41:54 AM

By Chip Brian, SmarTrend Analytics Team
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Ultra Petroleum (NYSE:UPL) upgraded to Buy, $74 target, at Pritchard Capital. The stock closed yesterday at $46.67 on volume of 3,961,265 shares, above average daily volume of 0.

Ultra Petroleum is currently below its 50-day moving average of $50.24 and should find support at its 200-day moving average of $43.19.

SmarTrend is bearish on shares of UPL and our subscribers received a Downtrend alert on October 28, 2009 at $51.29, which has returned 9% to date.

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