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Bearish Moving Average Cross by Ensign Group Inc/The (ENSG)

By David Diaz

Today, shares of Ensign Group Inc/The (NASDAQ:ENSG) have crossed bearishly below their 10-day moving average of $18.57 on a volume of 112K 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.

Ensign Group Inc/The share prices have moved between a 52-week high of $54.08 and a 52-week low of $16.50 and are now trading 9% above that low price at $18.02 per share. Over the past week, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ensign Group Inc/The on January 4th, 2017 by issuing a Downtrend alert when the shares were trading at $20.86. Since that call, shares of Ensign Group Inc/The have fallen 8.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses ensign group inc/the

Ticker(s): ENSG