Bearish Moving Average Cross by Arthur J Gallagher (AJG)
Arthur J Gallagher (NYSE:AJG) crossed under its 10-day moving average of $49.87 on a volume of 246K 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.
Over the past year, Arthur J Gallagher has traded in a range of $35.96 to $50.49 and is now at $49.49, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Arthur J Gallagher on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.94. Since that recommendation, shares of Arthur J Gallagher have risen 4.3%. We continue to monitor AJG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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