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Bearish Moving Average Cross by Signature Bank (SBNY)

By James Quinn

Today, shares of Signature Bank (NASDAQ:SBNY) have fallen below their 10-day MA of $129.85 on a volume of 101K 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, shares of Signature Bank have traded between a low of $113.53 and a high of $164.23 and are now at $127.42, which is 12% above that low price. The 200-day and 50-day moving averages have moved 0.24% lower and 0.19% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Signature Bank on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $144.22. Since that call, shares of Signature Bank have fallen 11.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses signature bank

Ticker(s): SBNY