Sep 07, 2011 (SmarTrend(R) Market Surveillance via COMTEX) -- Shares of China Medical Technologies (NASDAQ:CMED - Snapshot Report) traded at a new 52-week low yesterday of $5.06. Approximately 214,000 shares have traded hands yesterday vs. average 30-day volume of 288,000 shares.
China Medical Technologies closed at $5.16, approximately 21.8% below its 50-day moving average of $6.60. SmarTrend will be monitoring shares of CMED to see if this bearish momentum will continue.
In the last five trading sessions, the 50-day MA has fallen 3.37% while the 200-day MA has slid 1.5%.
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 $5.16, which is 36% of that high price.
SmarTrend currently has shares of China Medical Technologies in an Downtrend and issued the Downtrend alert on March 14, 2011 at $11.96. The stock has fallen 54.6% since the Downtrend alert was issued.
Write to Chip Brian at cbrian@mysmartrend.com
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Copyright, Comtex News Network, Inc. 2011
Source:zacks