China Automotive Systems: The Trend Continues Lower (CAAS)
Feb 02, 2010 (SmarTrend(R) Spotlight via COMTEX) --
Company: China Automotive Systems Inc (CAAS)
SmarTrend identified a Downtrend for China Automotive Systems (NASDAQ:CAAS) on January 21, 2010 at $19.24. In approximately 2 weeks, China Automotive Systems has returned 16.4% as of today's recent price of $16.08.
China Automotive Systems is currently below its 50-day moving average of $19.81 and should find support at its 200-day moving average of $10.81. 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 China Automotive Systems.
Write to Chip Brian at cbrian@tradethetrend.com
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Company: China Automotive Systems Inc (CAAS)
Related terms: automotive, china, market, nasdaq, securities
