SmarTrend's Trend Spotter Sees Continued Downward Momentum on Shares of Echelon (ELON)
Monday, March 8, 2010 - 21:12
Written on Mon, 03/08/2010 - 9:12pm
By Chip Brian

SmarTrend identified a Downtrend for Echelon (NASDAQ:ELON) on November 30, 2009 at $11.13. In approximately 3 months, Echelon has returned 19.9% as of today's recent price of $8.92.
Echelon is currently below its 50-day moving average of $9.74 and below its 200-day moving average of $10.45. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Echelon.

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