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Echelon (ELON) Breaks Through Support at $7.67

Written on Wed, 07/28/2010 - 3:39pm
By Chip Brian

SmarTrend has detected shares of Echelon (NASDAQ:ELON) have bearishly opened below the pivot of $7.76 today and have reached the first level of support of $7.67.
Should the shares continue to fall, we are monitoring the next support pivots of $7.57 and $7.38. Also, the shares are currently trading below the 50-day moving average of $7.69 and below the 200-day moving average of $9.79.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Echelon on May 11, 2010 at $8.53. Since the call, the stock has fallen 10.4%.

Keywords: Echelon pivot points

Ticker(s): ELON


Company Information For: ELON

Contact Chip Brian
Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

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