Bearish Moving Average Cross by SBA Communications (SBAC)
SBA Communications (NASDAQ:SBAC) shares have crossed bearishly below their 10-day moving average of $115.37 on a volume of 281K 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, SBA Communications has traded in a range of $82.80 to $128.47 and is now at $114.01, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.3%.
SmarTrend recommended that subscribers consider buying shares of SBA Communications on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $103.57. Since that recommendation, shares of SBA Communications have risen 13.3%. We continue to monitor SBAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses SBA Communications