LOOK FOR SHARES OF CORN PRODUCTS INTERNATIONAL TO POTENTIALLY PULLBACK AFTER YESTERDAY'S 3.37% RISE (CPO)

Nov 16, 2010 (SmarTrend(R) News Watch via COMTEX) -- Corn Products International (NYSE:CPO) traded in a range yesterday that spanned from a low of $43.25 to a high of $44.93. Yesterday, the shares gained 3.37%, which took the trading range above the 3-day high of $44.36 on volume of 942,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Shares of Corn Products International are currently trading above their 50-day moving average (MA) of $39.44 and above their 200-day MA of $35.01. Look for the MA to provide support for a short-term pullback in the shares.

SmarTrend currently has shares of Corn Products International in an Uptrend and issued the Uptrend alert on July 23, 2010 at $32.84. The stock has risen 31.1% since the Uptrend alert was issued.

SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $44.36 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Food- Major Diversified industry.

(Source: http://www.zacks.com/research/get_news.php?id=320l5450)