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Bearish Moving Average Cross by NextEra Energy (NEE)

By Amy Schwartz

Today, shares of NextEra Energy (NYSE:NEE) have crossed bearishly below their 10-day moving average of $129.28 on a volume of 229K 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.

In the past 52 weeks, NextEra Energy share prices have been bracketed by a low of $93.74 and a high of $131.98 and are now at $128.58, 37% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 0.21% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of NextEra Energy on May 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $119.45. Since that recommendation, shares of NextEra Energy have risen 8.8%. 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