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Bearish Moving Average Cross by NextEra Energy (NEE)

By Shiri Gupta

Today, shares of NextEra Energy (NYSE:NEE) have crossed bearishly below their 10-day moving average of $128.16 on a volume of 428K 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.

In the past 52 weeks, shares of NextEra Energy have traded between a low of $93.74 and a high of $131.98 and are now at $127.03, which is 36% above that low price. 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 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 7.6%. 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