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Bearish Moving Average Cross by BB&T (BBT)

By Shiri Gupta

Today, shares of BB&T (NYSE:BBT) have fallen below their 10-day MA of $38.23 on a volume of 1.5 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, BB&T share prices have been bracketed by a low of $29.95 and a high of $41.90 and are now at $37.80, 26% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of BB&T on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.56. Since that recommendation, shares of BB&T have risen 5.9%. We continue to monitor BBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses BB&T

Ticker(s): BBT