Скачать или смотреть Technical Analysis: SmarTrend Watching for Pullback in Shares of Endologix After Gain

Endologix (NASDAQ:ELGX) traded in a range yesterday that spanned from a low of $4.54 to a high of $4.84. Yesterday, the shares gained 3.02%, which took the trading range above the 3-day high of $4.65 on volume of 110,000 shares.

Shares of Endologix are currently trading above their 50-day moving average (MA) of $4.11 and above their 200-day MA of $4.70. Look for these MAs to provide support for a short-term pullback in the shares.

SmarTrend is bullish on shares of Endologix and our subscribers were alerted to Buy on April 20, 2010 at $4.45. The stock has risen 7.2% since the alert was issued.

SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $4.65 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Medical Instruments industry.