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CardioNet Down 3.2%, Shares Slide into the Red (BEAT)

Written on Thu, 07/29/2010 - 11:47am
By Chip Brian

CardioNet (NASDAQ:BEAT) is one of today's worst performing low-priced stocks, down 3.2% to $4.77 on 0.5x average daily volume. Approximately 242,000 shares have traded hands today vs. 30-day average volume of 480,000 shares.
High volume often signals a change in trends. Shares of CardioNet are currently trading below their 50-day moving average (MA) of $6.11 and below their 200-day MA of $6.52.
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.
CardioNet is in SmarTrend's Medical Instruments 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 is bearish on shares of CardioNet and our subscribers were alerted to sell on May 21, 2010 at $7.55. The stock has fallen 36.8% since the alert was issued.

Keywords: cardionet low priced stock

Ticker(s): BEAT

Contact Chip Brian



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