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Bearish Moving Average Cross by Hershey (HSY)

By James Quinn

Hershey (NYSE:HSY) shares have crossed bearishly below their 10-day moving average of $95.43 on a volume of 143K 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.

In the past 52 weeks, shares of Hershey have traded between a low of $82.41 and a high of $117.79 and are now at $95.04, which is 15% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 0.19% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Hershey on August 30th, 2016 by issuing a Downtrend alert when the shares were trading at $99.49. Since that call, shares of Hershey have fallen 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Hershey

Ticker(s): HSY