SmarTrend Detects Continued Selling Pressure in Shares of Evergreen Solar (ESLR)
SmarTrend identified a Downtrend for Evergreen Solar (NASDAQ: ESLR) on February 03, 2010 at $1.44. In approximately 1 month, Evergreen Solar has returned 14.6% as of today's recent price of $1.23.
Evergreen Solar is currently below its 50-day moving average of $1.44 and below its 200-day moving average of $1.75. 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 Evergreen Solar.
Write to Chip Brian at cbrian@tradethetrend.com
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