SmarTrend Detects Continued Buying Pressure in Shares of Morgans Hotel (MHGC)
Wednesday, March 17, 2010 - 19:13
Written on Wed, 03/17/2010 - 7:13pm
By Chip Brian

SmarTrend identified an Uptrend for Morgans Hotel (NASDAQ:MHGC) on December 03, 2009 at $4.05. In approximately 3 months, Morgans Hotel has returned 25.9% as of today's recent price of $5.10.
Morgans Hotel is currently above its 50-day moving average of $4.45 and above its 200-day moving average of $4.41. Look for these moving averages to climb to confirm the company's upward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Morgans Hotel shares.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): MHGC

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