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Bearish Moving Average Cross by Regal Entertainment Group (RGC)

By Shiri Gupta

Regal Entertainment Group (NYSE:RGC) crossed under its 10-day moving average of $23.36 on a volume of 169K 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.

Regal Entertainment Group share prices have moved between a 52-week high of $24.19 and a 52-week low of $16.50 and are now trading 41% above that low price at $23.24 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Regal Entertainment Group on June 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.78. Since that recommendation, shares of Regal Entertainment Group have risen 7.9%. We continue to monitor RGC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses regal entertainment group

Ticker(s): RGC