Aluminum of China (ACH) Reaches Initial Support Level, Watch for 0.12% Additional Downside

SmarTrend has detected shares of Aluminum of China (NYSE:ACH) have bearishly opened below the pivot of $20.18 today and have reached the first level of support of $20.06.
Should the shares continue to fall, we are monitoring the next support pivots of $19.94 and $19.70. Also, the shares are currently trading below the 50-day moving average of $20.45 and below the 200-day moving average of $25.55.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Aluminum of China on April 27, 2010 at $24.91. Since the call, the stock has fallen 19.9%.

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