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Bearish Moving Average Cross by Primoris Services (PRIM)

By Amy Schwartz

Primoris Services (NASDAQ:PRIM) crossed under its 10-day moving average of $17.99 on a volume of 148K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Primoris Services share prices have moved between a 52-week high of $25.25 and a 52-week low of $15.97 and are now trading 7% above that low price at $17.16 per share. The 200-day and 50-day moving averages have moved 0.52% higher and 0.93% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Primoris Services on May 11th, 2016 by issuing a Downtrend alert when the shares were trading at $22.05. Since that call, shares of Primoris Services have fallen 17.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses primoris services

Ticker(s): PRIM