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Bearish Moving Average Cross by Actuant (ATU)

By Shiri Gupta

Actuant (NYSE:ATU) shares have crossed bearishly below their 10-day moving average of $22.34 on a volume of 279K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Actuant have traded between a low of $17.02 and a high of $27.71 and are now at $22.00, which is 29% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Actuant on June 24th, 2016 by issuing a Downtrend alert when the shares were trading at $23.44. Since that call, shares of Actuant have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses actuant

Ticker(s): ATU