Genzyme (GENZ) Downgrade Alert, Watch for 8.3% Technical Uptrend Reversal

Genzyme (NASDAQ:GENZ) downgraded to Hold from Buy, $61 target, at Deutsche Bank. The stock closed yesterday at $58.24 on volume of 4,245,900 shares, above average daily volume of 3,822,735.

Genzyme is currently above its 50-day moving average of $53.45 and should find resistance at its 200-day moving average of $59.03.

SmarTrend is bullish on shares of GENZ and our subscribers received an Uptrend alert on August 21, 2009 at $53.77, which has returned 8.3% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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