Downtrend Spotted in Shares of Beacon Power (BCON)
SmarTrend identified a Downtrend for Beacon Power (NASDAQ: BCON) on July 13, 2009 at $0.68. In approximately 7 months, Beacon Power has returned 37.3% as of today's recent price of $0.43.
Beacon Power is currently below its 50-day moving average of $0.52 and below its 200-day moving average of $0.68. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Beacon Power.
Write to Chip Brian at cbrian@tradethetrend.com
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