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Bearish Moving Average Cross by Ameriprise Financial (AMP)

By Shiri Gupta

Ameriprise Financial (NYSE:AMP) crossed under its 10-day moving average of $100.54 on a volume of 119K 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.

Ameriprise Financial share prices have moved between a 52-week high of $130.69 and a 52-week low of $76.00 and are now trading 31% above that low price at $99.61 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Ameriprise Financial on August 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $98.40. Since that recommendation, shares of Ameriprise Financial have risen 3.2%. We continue to monitor AMP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ameriprise financial

Ticker(s): AMP