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Bearish Moving Average Cross by Michaels Cos Inc (MIK)

By Nick Russo

Michaels Cos Inc (NASDAQ:MIK) crossed under its 10-day moving average of $20.03 on a volume of 8.9 million 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, Michaels Cos Inc share prices have been bracketed by a low of $17.25 and a high of $29.75 and are now at $18.52, 7% above that low price. The 200-day and 50-day moving averages have moved 0.05% higher and 0.63% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Michaels Cos Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Michaels Cos Inc in search of a potential trend change.

Keywords: moving crosses michaels cos inc

Ticker(s): MIK