Sep 06, 2011 (SmarTrend(R) Spotlight via COMTEX) -- SmarTrend identified a Downtrend for Qiao Xing Universal Telephone (NASDAQ:XING) on August 05, 2011 at $1.04. In approximately 1 month, Qiao Xing Universal Telephone has returned 7.7% as of today's recent price of $0.96.
In the past 52 weeks, shares of Qiao Xing Universal Telephone have traded between a low of $0.92 and a high of $3.92 and are now at $0.96, which is 4% above that low price.
Qiao Xing Universal Telephone is currently below its 50-day moving average of $1.14 and below its 200-day moving average of $1.85. Look for these moving averages to decline to confirm the company's downward momentum.
In the last five trading sessions, the 50-day MA has fallen 0.92% while the 200-day MA has slid 0.97%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Qiao Xing Universal Telephone.
Write to Chip Brian at cbrian@mysmartrend.com
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Source:zacks