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Bearish Moving Average Cross by NextEra Energy (NEE)

By Nick Russo

NextEra Energy (NYSE:NEE) crossed under its 10-day moving average of $130.07 on a volume of 232K 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.

Over the past year, NextEra Energy has traded in a range of $93.74 to $133.28 and is now at $129.63, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of NextEra Energy on December 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $119.93. Since that recommendation, shares of NextEra Energy have risen 8.9%. We continue to monitor NEE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses nextera energy

Ticker(s): NEE