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Bearish Moving Average Cross by International Game Technology (IGT)

By Amy Schwartz

International Game Technology (NYSE:IGT) crossed under its 10-day moving average of $24.51 on a volume of 234K 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, International Game Technology has traded in a range of $12.48 to $24.95 and is now at $24.38, 95% above that low. The 200-day and 50-day moving averages have moved 0.07% lower and 1.42% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of International Game Technology on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.07. Since that recommendation, shares of International Game Technology have risen 23.7%. We continue to monitor IGT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses international game technology

Ticker(s): IGT