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Investors Surrender Their Shares of China BAK Battery, Shares Drop 2.7% (CBAK)

Written on Thu, 07/29/2010 - 12:40pm
By Chip Brian

China BAK Battery (NASDAQ:CBAK) is one of today's worst performing low-priced stocks, down 2.7% to $1.53 on 0.4x average daily volume. Approximately 229,000 shares have traded hands today vs. 30-day average volume of 605,000 shares.
High volume often signals a change in trends. Shares of China BAK Battery are currently trading below their 50-day moving average (MA) of $1.73 and below their 200-day MA of $2.43.
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 BAK Battery is in SmarTrend's Industrial Electrical Equipment 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 China BAK Battery and our subscribers were alerted to sell on April 27, 2010 at $2.10. The stock has fallen 27.2% since the alert was issued.

Keywords: china bak battery low priced stock

Ticker(s): CBAK

Contact Chip Brian



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