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Bearish Moving Average Cross by Jabil Circuit (JBL)

By Nick Russo

Jabil Circuit (NYSE:JBL) shares have crossed bearishly below their 10-day moving average of $29.08 on a volume of 519K 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.

Jabil Circuit share prices have moved between a 52-week high of $29.86 and a 52-week low of $16.78 and are now trading 70% above that low price at $28.45 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.5%.

SmarTrend recommended that subscribers consider buying shares of Jabil Circuit on December 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.42. Since that recommendation, shares of Jabil Circuit have risen 20.1%. We continue to monitor JBL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Jabil Circuit

Ticker(s): JBL