After Yesterday's Rally of 3.70%, Century Aluminum Shares Could Pullback (CENX)

Sep 03, 2010 (Dow Jones Commodities News via Comtex) -- Century Aluminum (NASDAQ:CENX) traded in a range yesterday that spanned from a low of $10.41 to a high of $10.93. Yesterday, the shares gained 3.70%, which took the trading range above the 3-day high of $10.56 on volume of 2.1 million shares.

Shares of Century Aluminum are currently trading above their 50-day moving average (MA) of $9.99 and should find resistance at their 200-day MA of $12.29. Look for these MAs to provide support for a short-term pullback in the shares.

SmarTrend is bullish on shares of Century Aluminum and our subscribers were alerted to Buy on June 21, 2010 at $10.84. The stock has risen 0.9% since the alert was issued.

SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $10.56 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Aluminum industry.