Bearish Moving Average Cross by Loews (L)
Today, shares of Loews (NYSE:L) have crossed bearishly below their 10-day moving average of $41.57 on a volume of 220K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Loews share prices have been bracketed by a low of $33.84 and a high of $42.07 and are now at $41.28, 22% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of Loews on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.58. Since that recommendation, shares of Loews have risen 14.1%. We continue to monitor L for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses loews