Bearish Moving Average Cross by Brinker International (EAT)
Today, shares of Brinker International (NYSE:EAT) have fallen below their 10-day MA of $48.16 on a volume of 351K 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.
In the past 52 weeks, shares of Brinker International have traded between a low of $43.20 and a high of $60.34 and are now at $47.99, which is 11% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.5%.
SmarTrend recommended that subscribers consider buying shares of Brinker International on June 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.30. Since that recommendation, shares of Brinker International have risen 4.3%. We continue to monitor EAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Brinker International