News
TRI uptrend spotted, moving averages set to climb
Sunday 21 February 2010
An uptrend in Thomson Reuters shares has been spotted, a US website that analyses trading patterns has told its subscribers. Moving averages are set to climb to confirm the group's upward momentum.
SmarTrend said it identified the upward trajectory using automated pattern recognition technology at $33.63 on 1 February and in the following three weeks Thomson Reuters shares returned 5.8 per cent as of the latest price on the New York Stock Exchange, $35.59.
TRI is currently above its 50-day moving average of $33.03 and above its 200-day moving average of $31.95, SmarTrend said, adding "Look for these moving averages to climb to confirm the company's upward momentum”. The shares hit a 52-week high of $36.07 last week. Thomson Reuters is due to report its 2009 Q4 and full year results on Wednesday. ■
- SOURCE
- Fox Business
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