Bearish Moving Average Cross by Dynegy (DYN)
Dynegy (NYSE:DYN) crossed under its 10-day moving average of $17.45 on a volume of 692K 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.
Dynegy share prices have moved between a 52-week high of $34.65 and a 52-week low of $7.20 and are now trading 137% above that low price at $17.03 per share. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has advanced 5.8%.
SmarTrend recommended that subscribers consider buying shares of Dynegy on June 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.03. Since that recommendation, shares of Dynegy have risen 4.2%. We continue to monitor DYN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses dynegy