Aug 30, 2011 (SmarTrend(R) Spotlight via COMTEX) -- SmarTrend identified a Downtrend for China Medical Technologies (NASDAQ:CMED - Snapshot Report) on March 14, 2011 at $11.96. In approximately 6 months, China Medical Technologies has returned 51.2% as of today's recent price of $5.83.

In the past 52 weeks, shares of China Medical Technologies have traded between a low of $5.28 and a high of $14.45 and are now at $5.83, which is 10% above that low price.

China Medical Technologies is currently below its 50-day moving average of $6.78 and below its 200-day moving average of $10.50. 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 2.43% while the 200-day MA has slid 0.83%.

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.

Source:zacks