Bearish Moving Average Cross by Leggett & Platt (LEG)
Leggett & Platt (NYSE:LEG) shares have crossed bearishly below their 10-day moving average of $53.45 on a volume of 421K 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 $54.62 and a 52-week low of $36.64 and are now trading 44% above that low price at $52.86 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.
SmarTrend recommended that subscribers consider buying shares of Leggett & Platt on February 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.38. Since that recommendation, shares of Leggett & Platt have risen 31.8%. We continue to monitor LEG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses leggett & platt