Market Overview

Downtrend Spotted in Shares of Subaye (SBAY)

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(via COMTEX News Network)--

SmarTrend identified a Downtrend for Subaye (NASDAQ: SBAY) on January 25, 2011 at $9.59. In approximately 2 months, Subaye has returned 33% as of today's recent price of $6.43.

In the past 52 weeks, shares of Subaye have traded between a low of $6.88 and a high of $24.27 and are now at $6.43, which is -7% above that low price.

Subaye is currently below its 50-day moving average of $8.78 and below its 200-day moving average of $10.52. Look for these moving averages to decline to confirm the company's downward momentum.

In the last five trading sessions, the 50-day MA has fallen 2.2% while the 200-day MA has slid 1.68%.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Subaye.

Write to Chip Brian at cbrian@tradethetrend.com

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