Sep 13, 2011 (SmarTrend(R) Spotlight via COMTEX) -- SmarTrend identified a Downtrend for China Medical Technologies (CMED.NSDQ) on March 14, 2011 at $11.96. In approximately 6 months since that trend was identified, China Medical Technologies has fallen 58.5% as of today's recent price of $4.96.
In the past 52 weeks, shares of China Medical Technologies have traded between a low of $4.73 and a high of $14.45 and are now at $4.96, which is 5% above that low price.
China Medical Technologies is currently below its 50-day moving average of $6.33 and below its 200-day moving average of $10.16. 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 2.38% while the 200-day MA has slid 1.2%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of China Medical Technologies.
Write to Chip Brian at cbrian@mysmartrend.com
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