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Bearish Moving Average Cross by ProLogis (PLD)

By James Quinn

ProLogis (NYSE:PLD) shares have crossed bearishly below their 10-day moving average of $49.78 on a volume of 1.7 million 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.

ProLogis share prices have moved between a 52-week high of $50.74 and a 52-week low of $35.25 and are now trading 37% above that low price at $48.44 per share. The 200-day and 50-day moving averages have moved 0.30% higher and 1.52% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of ProLogis on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.93. Since that recommendation, shares of ProLogis have risen 28.7%. We continue to monitor PLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ProLogis

Ticker(s): PLD