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Bearish Moving Average Cross by Raytheon (RTN)

By Shiri Gupta

Raytheon (NYSE:RTN) shares have crossed bearishly below their 10-day moving average of $159.26 on a volume of 283K 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.

In the past 52 weeks, Raytheon share prices have been bracketed by a low of $95.32 and a high of $163.10 and are now at $159.15, 67% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Raytheon on February 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $151.52. Since that recommendation, shares of Raytheon have risen 5.4%. We continue to monitor RTN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Raytheon

Ticker(s): RTN