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Bearish Moving Average Cross by Eros Internation (EROS)

By Shiri Gupta

Eros Internation (NYSE:EROS) crossed under its 10-day moving average of $10.30 on a volume of 137K 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, Eros Internation has traded in a range of $6.94 to $14.85 and is now at $10.16, 46% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of Eros Internation on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.99. Since that recommendation, shares of Eros Internation have risen 15.9%. We continue to monitor EROS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses eros internation

Ticker(s): EROS