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Bearish Moving Average Cross by Corrections of America (CXW)

By Amy Schwartz

Corrections of America (NYSE:CXW) crossed under its 10-day moving average of $34.48 on a volume of 256K 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.

Corrections of America share prices have moved between a 52-week high of $36.98 and a 52-week low of $24.21 and are now trading 40% above that low price at $33.85 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Corrections of America on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.42. Since that recommendation, shares of Corrections of America have risen 15.1%. 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