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Abaxis (ABAX) Downgrade Alert, Watch for 51.2% Technical Uptrend Reversal

Oct 13, 2009 (SmarTrend(R) Spotlight via COMTEX) --

Company: Abaxis, Inc. (ABAX)

Abaxis (NASDAQ:ABAX) downgraded to Neutral from Buy at SunTrust. The stock closed yesterday at $25.59 on volume of 236,000 shares, above average daily volume of 213,246.

Abaxis is currently above its 200-day moving average of $19.75 and should find resistance at its 50-day moving average of $27.39.

SmarTrend is bullish on shares of ABAX and our subscribers received an Uptrend alert on May 19, 2009 at $16.93, which has returned 51.2% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Company: Abaxis, Inc. (ABAX)


Related terms: market, nasdaq, securities

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