SmarTrend's Trend Spotter Sees Continued Downward Momentum on Shares of Ener1 Inc (HEV)

SmarTrend identified a Downtrend for Ener1 Inc (NASDAQ: HEV) on January 13, 2010 at $5.31. In approximately 2 weeks, Ener1 Inc has returned 21.8% as of today's recent price of $4.15.

Ener1 Inc is currently below its 50-day moving average of $5.75 and below its 200-day moving average of $6.12. 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 Ener1 Inc.

Write to Chip Brian at cbrian@tradethetrend.com

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