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Bearish Moving Average Cross by Golar LNG (GLNG)

By Amy Schwartz

Today, shares of Golar LNG (NASDAQ:GLNG) have fallen below their 10-day MA of $21.44 on a volume of 202K 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.

Golar LNG share prices have moved between a 52-week high of $51.89 and a 52-week low of $9.42 and are now trading 125% above that low price at $21.19 per share. The 200-day and 50-day moving averages have moved 2.02% lower and 0.01% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Golar LNG on August 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.80. Since that recommendation, shares of Golar LNG have risen 16.2%. We continue to monitor GLNG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses golar lng

Ticker(s): GLNG