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Bearish Moving Average Cross by Chimera Inv Corp (CIM)

By David Diaz

Chimera Inv Corp (NYSE:CIM) shares have crossed bearishly below their 10-day moving average of $19.93 on a volume of 994K 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 Chimera Inv Corp have traded between a low of $16.88 and a high of $20.54 and are now at $19.76, which is 17% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.33% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Chimera Inv Corp on January 25th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.90. Since that recommendation, shares of Chimera Inv Corp have risen 7.8%. We continue to monitor CIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses chimera inv corp

Ticker(s): CIM