Shares of Fibria Celulose SA (FBR) May Continue to Rise
Published on 07/23/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- Shares of FBR crossed above the critical 50-day
moving average of $15.60. The location of a stock price when analyzed against the moving average can aid
in predicting future short term momentum. Trading activity for shares of Fibria Celulose SA may indicate that the
shares of FBR may head higher assuming that the moving average continues upward direction.
The volume of shares exchanging hands is less than average daily volume of 2,271,730 of shares.
Other relevant figures to examine are the support and resistance levels for FBR. Fibria Celulose SA settled at $15.98 $0.41(+2.63%),
based on the pivot points, the current support and resistance levels are 15.48 and 16.28 respectively. If the resistance point price is broken in an upward movement, then the bullish trend is likely to continue and vice versa.
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