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Allstate Bearish Moving Average Crossover Alert (ALL)

By Shiri Gupta

Allstate (NYSE:ALL) shares have crossed bearishly below their 10-day moving average of $67.54 on a volume of 243K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Allstate share prices have moved between a 52-week high of $70.33 and a 52-week low of $54.12 and are now trading 24% above that low price at $67.33 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Allstate on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.81. Since that recommendation, shares of Allstate have risen 7.9%. We continue to monitor ALL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses allstate

Ticker(s): ALL