Bearish Moving Average Cross by Adtran (ADTN)
Adtran (NASDAQ:ADTN) crossed under its 10-day moving average of $17.18 on a volume of 1.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Adtran has traded in a range of $13.92 to $24.13 and is now at $16.51, 19% above that low. The 200-day and 50-day moving averages have moved 0.08% lower and 0.46% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Adtran on November 19th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.14. Since that recommendation, shares of Adtran have risen 9.0%. We continue to monitor ADTN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Adtran