Sun Life Financial Falls 0.18% on Heavy Volume: Watch For Rebound (SLF)
Thursday, Aug 26,2010, 6:28:33 PM Click:
Sun Life Financial (NYSE:SLF) traded in a range yesterday that spanned from a low of $22.14 to a high of $22.78. Yesterday, the shares fell 0.18%, which took the trading range below the 3-day low of $22.68 on volume of 752,000 shares.
Shares of Sun Life Financial are currently trading below their 50-day moving average (MA) of $26.82 and below their 200-day MA of $28.83. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Sun Life Financial and our subscribers were alerted to Sell on August 06, 2010 at $26.40. The stock has fallen 13.7% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $22.77 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Accident, Life & Health Insurance industry.
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