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Bearish Moving Average Cross by Corrections of America (CXW)

By Nick Russo

Corrections of America (NYSE:CXW) shares have crossed bearishly below their 10-day moving average of $34.12 on a volume of 236K 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.

In the past 52 weeks, Corrections of America share prices have been bracketed by a low of $12.99 and a high of $36.98 and are now at $33.31, 156% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of Corrections of America on November 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.62. Since that recommendation, shares of Corrections of America have risen 66.0%. We continue to monitor CXW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses corrections of america

Ticker(s): CXW