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Bearish Moving Average Cross by Cia Paranaense de Energia (ELP)

By Shiri Gupta

Cia Paranaense de Energia (NYSE:ELP) shares have crossed bearishly below their 10-day moving average of $8.99 on a volume of 680K 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, shares of Cia Paranaense de Energia have traded between a low of $4.22 and a high of $11.94 and are now at $8.50, which is 101% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 2.2%.

SmarTrend is tracking the current trend status for Cia Paranaense de Energia and will alert subscribers who have ELP in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses cia paranaense de energia

Ticker(s): ELP