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Bearish Moving Average Cross by Calpine (CPN)

By Amy Schwartz

Calpine (NYSE:CPN) crossed under its 10-day moving average of $13.17 on a volume of 946K 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, Calpine has traded in a range of $9.30 to $21.80 and is now at $13.03, 40% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Calpine on May 10th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.93. Since that recommendation, shares of Calpine have risen 21.6%. We continue to monitor CPN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses calpine

Ticker(s): CPN