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Bearish Moving Average Cross by Penske Automotiv (PAG)

By David Diaz

Penske Automotiv (NYSE:PAG) shares have crossed bearishly below their 10-day moving average of $49.07 on a volume of 289K 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, Penske Automotiv share prices have been bracketed by a low of $38.33 and a high of $54.83 and are now at $48.45, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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

Keywords: moving crosses penske automotiv

Ticker(s): PAG