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Ener1 (HEV) Initiated Coverage Alert, Watch for 21.4% Technical Downtrend Reversal - 11/3/2009 8:43:11 AM

By Chip Brian, SmarTrend Analytics Team
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Ener1 (NYSE:HEV) initiated as Buy at Deutsche Bank. The stock closed yesterday at $4.74 on volume of 926,259 shares, above average daily volume of 0.

Ener1 Inc is currently below its 50-day moving average of $6.71 and below its 200-day moving average of $5.69.

SmarTrend is bearish on shares of HEV and our subscribers received a Downtrend alert on October 26, 2009 at $6.03, which has returned 21.4% to date.

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