Today, shares of Magna International (NYSE:MGA) have crossed bullishly above their 10-day moving average of $56.29 on volume of 274 thousand shares.

This may provide swing traders with an opportunity for a long position as such a crossover often suggests higher prices in the near term. Watch for a close above this moving average level for confirmation.

SmarTrend issued an Uptrend Alert for Magna International on November 06, 2009 at $48.30. In approximately 3 months, Magna International has returned 17.3% as of today's recent price of $56.68.

We will continue to monitor MGA's share price relative to this moving average.

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html