Bearish Moving Average Cross by Intel (INTC)
Today, shares of Intel (NASDAQ:INTC) have fallen below their 10-day MA of $37.37 on a volume of 21.9 million 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, Intel share prices have been bracketed by a low of $21.89 and a high of $38.36 and are now at $35.69, 63% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Intel on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.90. Since that recommendation, shares of Intel have risen 18.4%. We continue to monitor INTC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Intel