HOT STOCK: MAGMA DESIGN AUTOMATION SHARES GAIN 2.2% (LAVA)
High volume often signals a change in trends. Shares of Magma Design Automation are currently trading above their 50-day moving average (NYSE:MA) of $3.26 and above their 200-day MA of $2.92.
SmarTrend scans for speculative low-price stocks under $5 for reversals in trends. A large price movement may signal continuation or reversal of a trend.
Magma Design Automation is in SmarTrend's Technical Software industry and this industry is currently in an Uptrend. An industry trend that matches the stock's trend helps to add conviction to the stock's Uptrend and price prediction.
SmarTrend is bullish on shares of Magma Design Automation and our subscribers were alerted to buy on September 16, 2010 at $3.44. The stock has risen 9.9% since the alert was issued.
Disclosure: Long LAVA