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Bearish Moving Average Cross by Aecom Technology (ACM)

By James Quinn

Today, shares of Aecom Technology (NYSE:ACM) have crossed bearishly below their 10-day moving average of $34.97 on a volume of 686K 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, Aecom Technology has traded in a range of $22.80 to $36.20 and is now at $34.26, 50% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Aecom Technology on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.86. Since that recommendation, shares of Aecom Technology have risen 10.2%. We continue to monitor ACM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses aecom technology

Ticker(s): ACM