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Elan Corp. plc (ELN) Downgrade Alert, Watch for 23.1% Technical Downtrend Continuation

Oct 29, 2009 (SmarTrend(R) Spotlight via COMTEX) --

Company: Elan Corp. Plc (ELN)

Elan Corp. plc (NYSE: ELN) downgraded to Neutral at UBS. The stock closed yesterday at $5.02 on volume of 8,237,700 shares, above average daily volume of 4,195,265.

Elan is currently below its 50-day moving average of $7.03 and below its 200-day moving average of $6.91.

SmarTrend is bearish on shares of ELN and our subscribers received a Downtrend alert on June 30, 2009 at $6.53, which has returned 23.1% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Company: Elan Corp. Plc (ELN)


Related terms: market, nyse, securities

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