Energy Conversion Devices: The Trend Continues Lower (ENER)
SmarTrend identified a Downtrend for Energy Conversion Devices (NASDAQ: ENER) on January 22, 2010 at $10.38. In approximately 2 months, Energy Conversion Devices has returned 21.1% as of today's recent price of $8.19.
Energy Conversion Devices is currently below its 50-day moving average of $9.16 and below its 200-day moving average of $11.79. 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 Energy Conversion Devices.
Write to Chip Brian at cbrian@tradethetrend.com
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