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Bearish Moving Average Cross by Fresh Del Monte Produce (FDP)

By Shiri Gupta

Fresh Del Monte Produce (NYSE:FDP) crossed under its 10-day moving average of $61.48 on a volume of 243K 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.

Fresh Del Monte Produce share prices have moved between a 52-week high of $66.26 and a 52-week low of $36.07 and are now trading 70% above that low price at $61.30 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Fresh Del Monte Produce on March 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.24. Since that recommendation, shares of Fresh Del Monte Produce have risen 52.9%. We continue to monitor FDP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses fresh del monte produce

Ticker(s): FDP