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Bearish Moving Average Cross by EnergySolutions (ES)

By Nick Russo

EnergySolutions (AMEX:ES) shares have crossed bearishly below their 10-day moving average of $59.34 on a volume of 342K 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.

In the past 52 weeks, shares of EnergySolutions have traded between a low of $44.64 and a high of $60.44 and are now at $58.89, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of EnergySolutions on June 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.62. Since that recommendation, shares of EnergySolutions have risen 5.2%. We continue to monitor ES for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:es energysolutions

Ticker(s): ES