Bearish Moving Average Cross by Pitney Bowes (PBI)
Today, shares of Pitney Bowes (NYSE:PBI) have crossed bearishly below their 10-day moving average of $17.52 on a volume of 274K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Pitney Bowes has traded in a range of $16.24 to $23.14 and is now at $17.41, 7% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that its subscribers protect gains by selling shares of Pitney Bowes on May 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $19.48. Since that call, shares of Pitney Bowes have fallen 8.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses pitney bowes