Bearish Moving Average Cross by Ship Finance International (SFL)
Ship Finance International (NYSE:SFL) crossed under its 10-day moving average of $15.27 on a volume of 292K 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, Ship Finance International has traded in a range of $9.83 to $17.80 and is now at $15.04, 53% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.4%.
SmarTrend recommended that subscribers consider buying shares of Ship Finance International on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.56. Since that recommendation, shares of Ship Finance International have risen 22.7%. We continue to monitor SFL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses ship finance international