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Bearish Moving Average Cross by International Game Technology (IGT)

By James Quinn

International Game Technology (NYSE:IGT) shares have crossed bearishly below their 10-day moving average of $20.77 on a volume of 2.1 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, International Game Technology share prices have been bracketed by a low of $12.48 and a high of $32.07 and are now at $18.36, 47% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of International Game Technology on March 10th, 2017 by issuing a Downtrend alert when the shares were trading at $23.72. Since that call, shares of International Game Technology have fallen 11.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses international game technology

Ticker(s): IGT