SmarTrend identified a Downtrend for Accelr8 Technology AXK on June 16, 2011 at $5.16. In approximately 3 weeks since that trend was identified, Accelr8 Technology has fallen 22% as of Thursday's closing price of $4.02.
In the past 52 weeks, shares of Accelr8 Technology have traded between a low of $0.67 and a high of $7.80 and are now at $4.02, which is 500% above that low price.
Accelr8 Technology is currently below its 50-day moving average of $4.58 and should find support at its 200-day moving average of $2.51. 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 climbed 0.55% while the 200-day MA has risen 1.29%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Accelr8 Technology.
Write to Chip Brian at cbrian@mysmartrend.com
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