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Bearish Moving Average Cross by iShares Silver Trust (SLV)

By Shiri Gupta

iShares Silver Trust (AMEX:SLV) shares have crossed bearishly below their 10-day moving average of $19.17 on a volume of 5.2 million 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, iShares Silver Trust share prices have been bracketed by a low of $13.04 and a high of $19.71 and are now at $18.83, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of iShares Silver Trust on June 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.53. Since that recommendation, shares of iShares Silver Trust have risen 17.1%. We continue to monitor SLV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:slv ishares silver trust

Ticker(s): SLV