Sep 12, 2011 (SmarTrend(R) Spotlight via COMTEX) -- China Medical Technologies (CMED.NSDQ) is one of today's worst performing low-priced stocks, down 4.5% to $4.84 on 0.8x average daily volume. Approximately 220,000 shares have traded hands today vs. 30-day average volume of 291,000 shares.
High volume often signals a change in trends. Shares of China Medical Technologies are currently trading below their 50-day moving average (MA) of $6.38 and below their 200-day MA of $10.20.
SmarTrend scans for speculative low-price stocks under $5 for reversals in trends. A large price movement may signal continuation or reversal of a trend.
China Medical Technologies is in SmarTrend's Medical Products industry and this industry is currently in an Uptrend. An industry trend that matches the stock's trend helps to add conviction to the stock's Downtrend and price prediction.
SmarTrend currently has shares of China Medical Technologies in a Downtrend and issued the Downtrend alert on March 14, 2011 at $11.96. The stock has fallen 57.6% 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