EnerNOC: The Trend Continues Lower (ENOC)
SmarTrend identified a Downtrend for EnerNOC (NASDAQ: ENOC) on January 22, 2010 at $32.35. In approximately 1 week, EnerNOC has returned 3.7% as of today's recent price of $31.14.
EnerNOC should find initial support at its 50-day moving average of $30.17 and further support at its 200-day moving average of $26.83. 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 EnerNOC.
Write to Chip Brian at cbrian@tradethetrend.com
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