SmarTrend's Trend Spotter Sees Continued Downward Momentum on Shares of CardioNet (BEAT)
SmarTrend identified a Downtrend for CardioNet (NASDAQ: BEAT) on May 21, 2010 at $7.55. In approximately 2 months, CardioNet has returned 34.6% as of today's recent price of $4.94.
CardioNet is currently below its 50-day moving average of $6.24 and below its 200-day moving average of $6.55. 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 CardioNet.
Write to Chip Brian at cbrian@tradethetrend.com
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