SmarTrend identified an Uptrend for Nevsun Resources (AMEX:NSU) on February 10, 2010 at $2.40. In approximately 1 month, Nevsun Resources has returned 12.1% as of today’s recent price of $2.69.
Nevsun Resources is currently above its 50-day moving average of $2.37 and above its 200-day moving average of $2.19. Look for these moving averages to climb to confirm the company’s upward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Nevsun Resources shares. Source(mysmartrend)
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- Nevsun Resources Eritrea Annual Report 2008
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- Wickman sees value in Nevsun Resources, says The Globe and Mail
- Video: Nevsun Resources CEO Cliff Davis on BNN
- Nevsun Resources Financial Results 2009
- Nevsun Resources Adds New VP to its Management Team
You can’t apply technical analysis on small companies such as Nevsun because the volume of the trades are too low.
Mike you are right, and using a moving average does not help at all to draw a conclusion about the long term trend. This is a short term snap shot with no significant information.