Watching for Potential Rebound - TNCC

 

 

NASDAQ Trading (US)

www.mysmartrend.com/news-briefs/news-watch/...commerce-bancorp-after-

SmarTrend Watching for Potential Rebound in Shares of Tennessee Commerce Bancorp  (TNCC)

 

         

Tennessee Commerce Bancorp (NASDAQ:TNCC)  traded in a range yesterday that spanned from a low of $0.08 to a high  of $0.10. Yesterday, the shares fell 7.78%, which took the trading range  below the 3-day low of $0.08 on volume of 53,000 shares. Often times  after large one-day declines, short-term traders may play for some  degree of mean reversion.
Shares of Tennessee Commerce Bancorp are currently trading below their  50-day moving average (MA) of $0.76 and below their 200-day MA of $2.68.  Look for the MA to provide resistance for a short-term rebound in the  shares.
SmarTrend currently has shares of Tennessee Commerce Bancorp in an  Downtrend and issued the Downtrend alert on April 04, 2011 at $4.52. The  stock has fallen 98% since the Downtrend alert was issued.
SmarTrend expects the share price to rebound toward the $0.08 resistance  level. Afterwards, we expect it to move downward with its peers in the  SmarTrend Regional Banks- Southeast industry.