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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Asmara
14°
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.