Taleo Downward Momentum Looks to Continue (TLEO)
SmarTrend identified a Downtrend for Taleo (NASDAQ: TLEO) on January 29, 2010 at $20.67. In approximately 1 week, Taleo has returned 3.1% as of today's recent price of $20.02.
Taleo is currently below its 50-day moving average of $22.10 and should find support at its 200-day moving average of $19.51. 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 Taleo.
Write to Chip Brian at cbrian@tradethetrend.com
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