Bearish Moving Average Cross by Laboratory Corp of America Holdings (LH)
Laboratory Corp of America Holdings (NYSE:LH) crossed under its 10-day moving average of $137.75 on a volume of 147K 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, Laboratory Corp of America Holdings share prices have been bracketed by a low of $97.79 and a high of $141.32 and are now at $137.42, 41% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 1.05% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Laboratory Corp of America Holdings on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.54. Since that recommendation, shares of Laboratory Corp of America Holdings have risen 25.8%. We continue to monitor LH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses laboratory corp of america holdings