Market Overview

Excel Maritime Carriers Down 51.6% Since SmarTrend Downtrend Call (EXM)

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(via COMTEX News Network)--

SmarTrend identified a Downtrend for Excel Maritime Carriers (NYSE: EXM) on January 19, 2011 at $5.50. In approximately 6 months, Excel Maritime Carriers has returned 51.6% as of today's recent price of $2.66.

In the past 52 weeks, shares of Excel Maritime Carriers have traded between a low of $2.69 and a high of $6.63 and are now at $2.66, which is -1% above that low price.

Excel Maritime Carriers is currently below its 50-day moving average of $3.13 and below its 200-day moving average of $4.64. 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 3.81% while the 200-day MA has slid 1.5%.

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

Write to Chip Brian at cbrian@mysmartrend.com

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