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Bearish Moving Average Cross by ProLogis (PLD)

By Shiri Gupta

ProLogis (NYSE:PLD) shares have crossed bearishly below their 10-day moving average of $56.14 on a volume of 398K shares. Swing traders may find 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 $57.05 and a 52-week low of $35.25 and are now trading 59% above that low price at $55.93 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of ProLogis on February 27th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.27. Since that recommendation, shares of ProLogis have risen 10.7%. 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