FreeSeas (FREE) Bearish Technical Alert - Trend Down 15.7%

FreeSeas (NASDAQ:FREE) is trading 4.4% lower (down $0.08 to $1.72) today on volume of 94,748 shares. The stock has traded within a 52-week range of $0.52 and $7.15.

FreeSeas is currently below its 50-day moving average of $2.26 and should find support at its 200-day moving average of $1.67.

SmarTrend is bearish on shares of FREE and our subscribers received a Downtrend alert on June 23, 2009 at $2.04, which has returned 15.7% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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