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Bearish Moving Average Cross by Brookfield Asset Management (BAM)

By Amy Schwartz

Brookfield Asset Management (NYSE:BAM) shares have crossed bearishly below their 10-day moving average of $38.10 on a volume of 139K 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, Brookfield Asset Management has traded in a range of $26.13 to $38.99 and is now at $37.81, 45% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for Brookfield Asset Management and will alert subscribers who have BAM in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses Brookfield Asset Management

Ticker(s): BAM