Bearish Moving Average Cross by Discovery Communications (DISCA)
Discovery Communications (NASDAQ:DISCA) crossed under its 10-day moving average of $24.97 on a volume of 394K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Discovery Communications has traded in a range of $23.66 to $34.94 and is now at $24.62, 4% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of Discovery Communications on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $27.05. Since that call, shares of Discovery Communications have fallen 6.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Discovery Communications