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Bearish Moving Average Cross by Pitney Bowes Inc (PBI)

By James Quinn

Pitney Bowes Inc (NYSE:PBI) crossed under its 10-day moving average of $9.46 on a volume of 324K 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, Pitney Bowes Inc share prices have been bracketed by a low of $8.30 and a high of $16.13 and are now at $9.35, 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Pitney Bowes Inc on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $11.66. Since that call, shares of Pitney Bowes Inc have fallen 17.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses pitney bowes inc

Ticker(s): PBI