Downtrend Spotted in Shares of EuroBancshares (EUBK)

SmarTrend identified a Downtrend for EuroBancshares EUBK on February 10, 2010 at $0.40. In approximately 2 months, EuroBancshares has returned 14.7% as of today's recent price of $0.34.

EuroBancshares is currently below its 50-day moving average of $0.42 and below its 200-day moving average of $1.19. 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 EuroBancshares.

Write to Chip Brian at cbrian@tradethetrend.com

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