Blue Nile Downward Momentum Looks to Continue (NILE)
SmarTrend identified a Downtrend for Blue Nile (NASDAQ: NILE) on January 21, 2010 at $54.49. In approximately 1 month, Blue Nile has returned 8.9% as of today's recent price of $49.63.
Blue Nile is currently below its 50-day moving average of $56.70 and below its 200-day moving average of $53.36. 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 Blue Nile.
Write to Chip Brian at cbrian@tradethetrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.mysmartrend.com/signup
