Enzon Pharmaceuticals Downward Momentum Looks to Continue (ENZN)
SmarTrend identified a Downtrend for Enzon Pharmaceuticals (NASDAQ: ENZN) on January 27, 2010 at $9.87. In approximately 3 weeks, Enzon Pharmaceuticals has returned 6.8% as of today's recent price of $9.19.
Enzon Pharmaceuticals is currently below its 50-day moving average of $10.22 and should find support at its 200-day moving average of $8.65. 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 Enzon Pharmaceuticals.
Write to Chip Brian at cbrian@tradethetrend.com
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