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Bearish Moving Average Cross by CBS (CBS)

By James Quinn

Today, shares of CBS (NYSE:CBS) have fallen below their 10-day MA of $52.16 on a volume of 702K 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 CBS have traded between a low of $38.51 and a high of $63.95 and are now at $52.00, which is 35% above that low price. The 200-day and 50-day moving averages have moved 0.08% higher and 1.50% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of CBS on July 21st, 2016 by issuing a Downtrend alert when the shares were trading at $54.39. Since that call, shares of CBS have fallen 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses

Ticker(s): CBS