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Bearish Moving Average Cross by Genesco Inc (GCO)

By David Diaz

Genesco Inc (NYSE:GCO) crossed under its 10-day moving average of $44.15 on a volume of 290K 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, Genesco Inc has traded in a range of $20.90 to $45.90 and is now at $41.50, 99% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Genesco Inc on November 17th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.30. Since that recommendation, shares of Genesco Inc have risen 59.0%. We continue to monitor GCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses genesco inc

Ticker(s): GCO