ING Group (ING) Upgrade Alert, Watch for 12.9% Technical Downtrend Reversal

ING Group (NYSE:ING) upgraded to Buy at Deutsche Bank. The stock closed Friday at $12.90 on volume of 5,663,877 shares, above average daily volume of 1,864,733.

ING Groep is currently below its 50-day moving average of $16.21 and should find support at its 200-day moving average of $10.75.

SmarTrend is bearish on shares of ING and our subscribers received a Downtrend alert on October 26, 2009 at $14.81, which has returned 12.9% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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