SmarTrend Detects Continued Selling Pressure in Shares of Multimedia Games (MGAM)
SmarTrend identified a Downtrend for Multimedia Games (NASDAQ: MGAM) on January 26, 2010 at $5.32. In approximately 1 month, Multimedia Games has returned 17.7% as of today's recent price of $4.38.
Multimedia Games is currently below its 50-day moving average of $5.31 and below its 200-day moving average of $5.20. 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 Multimedia Games.
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
