Bearish Moving Average Cross by Sanofi-Aventis (SNY)
Today, shares of Sanofi-Aventis (NYSE:SNY) have fallen below their 10-day MA of $38.46 on a volume of 2.8 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.
Over the past year, Sanofi-Aventis has traded in a range of $37.41 to $54.98 and is now at $38.34, 2% above that low. The 200-day and 50-day moving averages have moved 0.57% lower and 0.30% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Sanofi-Aventis on August 5th, 2016 by issuing a Downtrend alert when the shares were trading at $40.12. Since that call, shares of Sanofi-Aventis have fallen 3.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Sanofi-Aventis