Matthews International Corp (MATW)

[Lurker from Mars]

Matthews International (NASDAQ:MATW) traded in a range yesterday that spanned from a low of $29.89 to a high of $30.75. Yesterday, the shares fell 1.15%, which took the trading range below the 3-day low of $30.00 on volume of 123,000 shares.
Shares of Matthews International are currently trading below their 50-day moving average (MA) of $34.25 and below their 200-day MA of $34.94. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Matthews International and our subscribers were alerted to Sell on May 06, 2010 at $33.02. The stock has fallen 8.8% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $30.10 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Personal & Consumer Services industry.

guess they are not ready to cover....