Shares of ACFN Down 3.6% Since Downtrend Call on Shares
SmarTrend identified a Downtrend for Acorn Energy (NASDAQ: ACFN) on May 20, 2011 at $3.59. In approximately 4 weeks, Acorn Energy has returned 3.6% as of today's recent price of $3.46.
In the past 52 weeks, shares of Acorn Energy have traded between a low of $3.50 and a high of $5.58 and are now at $3.46, which is -1% above that low price.
Acorn Energy is currently below its 50-day moving average of $3.89 and below its 200-day moving average of $4.09. Look for these moving averages to decline to confirm the company's downward momentum.
In the last five trading sessions, the 50-day MA has climbed 0.55% while the 200-day MA has slid 0.23%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Acorn Energy.
Write to Chip Brian at cbrian@mysmartrend.com
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