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Bearish Moving Average Cross by Altra Industrial (AIMC)

By Nick Russo

Today, shares of Altra Industrial (NASDAQ:AIMC) have crossed bearishly below their 10-day moving average of $31.76 on a volume of 188K 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, Altra Industrial share prices have been bracketed by a low of $23.52 and a high of $47.85 and are now at $30.19, 28% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Altra Industrial on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.76. Since that recommendation, shares of Altra Industrial have risen 20.3%. We continue to monitor AIMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses altra industrial

Ticker(s): AIMC