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Ambac Financial Bearish Moving Average Crossover Alert (AMBC)

By Shiri Gupta

Ambac Financial (NASDAQ:AMBC) crossed under its 10-day moving average of $20.25 on a volume of 101K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Ambac Financial have traded between a low of $13.17 and a high of $22.02 and are now at $20.14, which is 53% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Ambac Financial on May 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.60. Since that recommendation, shares of Ambac Financial have risen 9.8%. We continue to monitor AMBC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ambac financial

Ticker(s): AMBC