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Bearish Moving Average Cross by Omnicom Group (OMC)

By David Diaz

Omnicom Group (NYSE:OMC) crossed under its 10-day moving average of $83.80 on a volume of 482K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Omnicom Group has traded in a range of $64.12 to $89.66 and is now at $83.15, 30% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Omnicom Group and will alert subscribers who have OMC in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses Omnicom Group

Ticker(s): OMC