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Bearish Moving Average Cross by Callaway Golf Co (ELY)

By Amy Schwartz

Today, shares of Callaway Golf Co (NYSE:ELY) have fallen below their 10-day MA of $17.15 on a volume of 830K 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.

In the past 52 weeks, shares of Callaway Golf Co have traded between a low of $9.50 and a high of $17.75 and are now at $16.77, which is 77% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Callaway Golf Co on March 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.46. Since that recommendation, shares of Callaway Golf Co have risen 54.5%. We continue to monitor ELY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses callaway golf co

Ticker(s): ELY