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Bearish Moving Average Cross by Canadian Solar (CSIQ)

By David Diaz

Canadian Solar (NASDAQ:CSIQ) crossed under its 10-day moving average of $13.07 on a volume of 582K 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 Canadian Solar have traded between a low of $10.25 and a high of $40.08 and are now at $12.80, which is 25% above that low price. The 200-day and 50-day moving averages have moved 0.92% lower and 1.67% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Canadian Solar. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Canadian Solar in search of a potential trend change.

Keywords: moving crosses canadian solar

Ticker(s): CSIQ