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Bearish Moving Average Cross by Intercontinental Hotels Group (IHG)

By David Diaz

Intercontinental Hotels Group (NYSE:IHG) shares have crossed bearishly below their 10-day moving average of $42.66 on a volume of 162K shares. Swing traders may find 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 Intercontinental Hotels Group have traded between a low of $31.08 and a high of $44.86 and are now at $41.19, which is 33% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 0.84% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Intercontinental Hotels Group on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.39. Since that recommendation, shares of Intercontinental Hotels Group have risen 12.3%. We continue to monitor IHG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses intercontinental hotels group

Ticker(s): IHG