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Bearish Moving Average Cross by Silver Wheaton (SLW)

By David Diaz

Silver Wheaton (NYSE:SLW) crossed under its 10-day moving average of $25.92 on a volume of 2.4 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Silver Wheaton share prices have moved between a 52-week high of $26.56 and a 52-week low of $10.04 and are now trading 154% above that low price at $25.47 per share. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.7%.

SmarTrend recommended that subscribers consider buying shares of Silver Wheaton on April 19th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.19. Since that recommendation, shares of Silver Wheaton have risen 45.0%. We continue to monitor SLW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses silver wheaton

Ticker(s): SLW