Shares of Fibria Celulose SA (FBR) Failed to Break the Resistance Line
Published on 07/22/2010 by Leo Goldman
Shares of FBR touched the 50-day moving average from below but failed to traverse above the widely
watched resistance line of $15.64. If the stock stays below the critical 50-day moving average, then
investors may continue to sell the shares in anticipation of a downward price move.
Shares of Fibria Celulose SA closed at $14.80 in the previous trading session and opened today at $15.03.
FBR is currently trading at $15.57, up $0.77 (+5.20%) in today's trading session.
The shares of the stock are trading between $15.02 and $15.69. Today's price shift was accompanied by a volume of 4,502,071 shares which
is greater than the average volume of 2,215,400 shares.
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