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Bearish Moving Average Cross by Aaron's (AAN)

By James Quinn

Today, shares of Aaron's (NYSE:AAN) have fallen below their 10-day MA of $25.01 on a volume of 362K 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.

Aaron's share prices have moved between a 52-week high of $40.80 and a 52-week low of $20.24 and are now trading 18% above that low price at $23.90 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Aaron's on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.48. Since that recommendation, shares of Aaron's have risen 4.7%. We continue to monitor AAN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses aaron's

Ticker(s): AAN