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Bearish Moving Average Cross by Leggett & Platt (LEG)

By Shiri Gupta

Today, shares of Leggett & Platt (NYSE:LEG) have crossed bearishly below their 10-day moving average of $38.34 on a volume of 853K 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.

Leggett & Platt share prices have moved between a 52-week high of $51.99 and the current low of $35.91 and are currently at $36.01 per share. The 200-day and 50-day moving averages have moved 0.44% lower and 0.95% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Leggett & Platt on September 27th, 2018 by issuing a Downtrend alert when the shares were trading at $44.21. Since that call, shares of Leggett & Platt have fallen 12.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses leggett & platt

Ticker(s): LEG