Bearish Moving Average Cross by Anadarko Petroleum (APC)
Today, shares of Anadarko Petroleum (NYSE:APC) have fallen below their 10-day MA of $54.13 on a volume of 1.3 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Anadarko Petroleum share prices have moved between a 52-week high of $95.75 and a 52-week low of $28.16 and are now trading 87% above that low price at $52.75 per share. The 200-day and 50-day moving averages have moved 0.89% lower and 2.22% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Anadarko Petroleum on May 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.50. Since that recommendation, shares of Anadarko Petroleum have risen 5.7%. We continue to monitor APC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Anadarko Petroleum