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Bearish Moving Average Cross by Avnet (AVT)

By Amy Schwartz

Today, shares of Avnet (NYSE:AVT) have fallen below their 10-day MA of $44.12 on a volume of 505K 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.

Over the past year, Avnet has traded in a range of $36.42 to $46.95 and is now at $43.08, 18% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Avnet on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.07. Since that recommendation, shares of Avnet have risen 11.5%. We continue to monitor AVT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses avnet

Ticker(s): AVT