Downtrend Spotted in Shares of Valence Technology (VLNC)

SmarTrend identified a Downtrend for Valence Technology (NASDAQ: VLNC) on October 28, 2009 at $1.45. In approximately 3 months, Valence Technology has returned 40.7% as of today's recent price of $0.86.

Valence Technology is currently below its 50-day moving average of $1.03 and below its 200-day moving average of $1.59. 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 Valence Technology.

Write to Chip Brian at cbrian@tradethetrend.com

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