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Bearish Moving Average Cross by LyondellBasell Industries (LYB)

By Shiri Gupta

LyondellBasell Industries (NYSE:LYB) crossed under its 10-day moving average of $80.81 on a volume of 613K 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.

Over the past year, LyondellBasell Industries has traded in a range of $69.10 to $107.32 and is now at $79.52, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of LyondellBasell Industries on March 9th, 2017 by issuing a Downtrend alert when the shares were trading at $89.26. Since that call, shares of LyondellBasell Industries have fallen 8.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses lyondellbasell industries

Ticker(s): LYB