Bearish Moving Average Cross by Dana (DAN)
Dana (NYSE:DAN) crossed under its 10-day moving average of $14.18 on a volume of 300K 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, Dana share prices have been bracketed by a low of $9.80 and a high of $22.34 and are now at $14.08, 44% above that low price. The 200-day and 50-day moving averages have moved 0.94% lower and 0.33% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Dana on July 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.40. Since that recommendation, shares of Dana have risen 15.4%. We continue to monitor DAN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses dana