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Bearish Moving Average Cross by Blackstone (BX)

By James Quinn

Today, shares of Blackstone (NYSE:BX) have fallen below their 10-day MA of $33.19 on a volume of 1.4 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.

Over the past year, Blackstone has traded in a range of $22.31 to $44.43 and is now at $32.69, 47% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Blackstone on April 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.88. Since that recommendation, shares of Blackstone have risen 8.1%. We continue to monitor BX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Blackstone

Ticker(s): BX