Bearish Moving Average Cross by Pentair (PNR)
Pentair (NYSE:PNR) crossed under its 10-day moving average of $60.19 on a volume of 190K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Pentair share prices have been bracketed by a low of $41.57 and a high of $69.65 and are now at $60.08, 45% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.4%.
SmarTrend recommended that subscribers consider buying shares of Pentair on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.77. Since that recommendation, shares of Pentair have risen 29.9%. We continue to monitor PNR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses pentair