Schnitzer Steel Industries (SCHN) Bearish Technical Alert - Trend Down 13.5%

Schnitzer Steel Industries (NASDAQ:SCHN) is trading 0.8% lower (down $0.34 to $42.19) today on volume of 358,261 shares. The stock has traded within a 52-week range of $16.45 and $63.98.

Schnitzer Steel Industries is currently below its 50-day moving average of $53.60 and below its 200-day moving average of $47.17.

SmarTrend is bearish on shares of SCHN and our subscribers received a Downtrend alert on October 27, 2009 at $48.76, which has returned 13.5% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: market, nasdaq, securities, steel