Tri-Valley Set to Rebound after Yesterday's Selloff of 6.78% (TIV)
Written on Thu, 05/06/2010 - 07:21
By Chip Brian
Tri-Valley (AMEX:TIV) traded in a range yesterday that spanned from a low of $1.06 to a high of $1.17. Yesterday, the shares fell 6.78%, which took the trading range below the 3-day low of $1.12 on volume of 160,000 shares.
Shares of Tri-Valley are currently trading below their 50-day moving average (MA) of $1.66 and below their 200-day MA of $1.84. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Tri-Valley and our subscribers were alerted to Sell on April 07, 2010 at $1.39. The stock has fallen 20.9% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $1.12 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Oil & Gas- Drilling and Exploration industry.
Howard
