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Bearish Moving Average Cross by Canadian Solar (CSIQ)

By Shiri Gupta

Canadian Solar (NASDAQ:CSIQ) crossed under its 10-day moving average of $14.34 on a volume of 1.9 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Canadian Solar share prices have been bracketed by a current low of $13.26 and a high of $40.08 and are now at $13.60. The 200-day and 50-day moving averages have moved 0.92% lower and 1.67% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Canadian Solar on June 13th, 2016 by issuing a Downtrend alert when the shares were trading at $16.11. Since that call, shares of Canadian Solar have fallen 10.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses canadian solar

Ticker(s): CSIQ