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Bearish Moving Average Cross by JPMorgan Alerian MLP Index ETN (AMJ)

By David Diaz

JPMorgan Alerian MLP Index ETN (NYSE:AMJ) crossed under its 10-day moving average of $32.19 on a volume of 115K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, JPMorgan Alerian MLP Index ETN share prices have been bracketed by a low of $20.35 and a high of $45.81 and are now at $32.02, 57% above that low price. The 200-day and 50-day moving averages have moved 0.61% lower and 1.34% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of JPMorgan Alerian MLP Index ETN on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.44. Since that recommendation, shares of JPMorgan Alerian MLP Index ETN have risen 32.2%. We continue to monitor AMJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses jpmorgan alerian mlp index etn

Ticker(s): AMJ