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Bearish Moving Average Cross by Principal Financial Group (PFG)

By Nick Russo

Today, shares of Principal Financial Group (NYSE:PFG) have crossed bearishly below their 10-day moving average of $47.22 on a volume of 196K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Principal Financial Group has traded in a range of $33.09 to $58.02 and is now at $47.01, 42% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Principal Financial Group on July 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.28. Since that recommendation, shares of Principal Financial Group have risen 7.1%. We continue to monitor PFG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Principal Financial Group

Ticker(s): PFG