Bearish Moving Average Cross by CBS (CBS)
CBS (NYSE:CBS) crossed under its 10-day moving average of $56.47 on a volume of 1.4 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, CBS has traded in a range of $38.51 to $63.95 and is now at $55.92, 45% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of CBS on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.70. Since that recommendation, shares of CBS have risen 19.4%. We continue to monitor CBS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses