NEW YORK (

TheStreet

) --

American Superconductor

(AMSC) - Get Report

can't shake a losing streak that began on Monday after a

Barron's

report that questioned the strength of its relationship with Chinese wind power giant

Sinovel

.

>>American Superconductor Under Pressure

The big dip on Monday in American Superconductor shares was a fait accompli after

Barron's

published the piece over the weekend. Harder to explain was the continued selling on Thursday, and selling at an even higher volume than on Wednesday.

American Superconductor shares were down 5% on Thursday afternoon, and had eclipsed the average daily trading volume in the early afternoon. The latest loss brings the total tally of AMSC's decline to 15% since Monday's dive.

There wasn't any single factor causing the American Superconductor shares to decline more on Thursday, according to analysts covering the stock.

One clean tech analyst said that on Wednesday, American Superconductor shares had breached their 200-day moving average. American Superconductor shares hit their 200-day moving average on Monday. Then shares stabilized on Tuesday, but when the markets took a dive on Wednesday, it led to AMSC shares dipping below their 200-day average.

Breaching the 200-day moving average is a trigger for technical traders to exit stocks, and given that the bearish

Barron's

report is still in the mix, there's little trigger for investors to enter the stock even after a 15% decline.

From a technical trading standpoint, AMSC shares still haven't fallen low enough for traders to "plant a flag and say 'let's play this stock'" the clean tech analyst said.

In the least, though, the analyst said that the fact the AMSC trading volume had spiked on Thursday to a level above the Wednesday level -- when the 200-day average was breached -- is concerning.

Short interest has always been high in American Superconductor shares, and it could be the case that the shorts keep adding onto the bearish trade from Monday, and there's a lack of any bulls to counter the continued pressure.

-- Written by Eric Rosenbaum from New York.

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>>American Superconductor Under Pressure