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Bearish Moving Average Cross by Hershey (HSY)

By Amy Schwartz

Hershey (NYSE:HSY) shares have crossed bearishly below their 10-day moving average of $112.59 on a volume of 437K 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.

Over the past year, Hershey has traded in a range of $82.41 to $117.79 and is now at $112.03, 36% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Hershey on June 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.13. Since that recommendation, shares of Hershey have risen 18.9%. We continue to monitor HSY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Hershey

Ticker(s): HSY