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Bearish Moving Average Cross by Global Payments (GPN)

By David Diaz

Global Payments (NYSE:GPN) crossed under its 10-day moving average of $133.59 on a volume of 143K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Global Payments has traded in a range of $94.81 to $137.13 and is now at $132.65, 40% above that low. The 200-day and 50-day moving averages have moved 0.45% higher and 2.49% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Global Payments on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.13. Since that recommendation, shares of Global Payments have risen 28.7%. We continue to monitor GPN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses global payments

Ticker(s): GPN