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Bearish Moving Average Cross by iShares COMEX Gold Trust (IAU)

Written on Wed, 11/28/2012 - 11:48am
By Shiri Gupta

Today, shares of iShares COMEX Gold Trust (AMEX:IAU) have crossed bearishly below their 10-day moving average of $16.83 on a volume of 1.4 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, iShares COMEX Gold Trust share prices have been bracketed by a low of $14.87 and a high of $17.48 and are now at $16.64, 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for iShares COMEX Gold Trust and will alert subscribers who have IAU in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses amex:iau ishares comex gold trust

Ticker(s): IAU

Contact Shiri Gupta



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