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Medis Technologies Downward Momentum Looks to Continue (MDTL)
Dec 29, 2009 (SmarTrend(R) Spotlight via COMTEX) --
SmarTrend identified a Downtrend for Medis Technologies (NASDAQ:MDTL) on October 28, 2009 at $0.20. In approximately 2 months, Medis Technologies has returned 70% as of today's recent price of $0.06.
Medis Technologies is currently below its 50-day moving average of $0.13 and below its 200-day moving average of $0.32. 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 Medis Technologies.
Write to Chip Brian at cbrian@tradethetrend.com
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