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Bearish Moving Average Cross by Skechers Usa-A (SKX)

By Nick Russo

Today, shares of Skechers Usa-A (NYSE:SKX) have crossed bearishly below their 10-day moving average of $40.78 on a volume of 15.9 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.

Over the past year, Skechers Usa-A has traded in a range of $18.81 to $43.08 and is now at $30.41, 62% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.4%.

SmarTrend recommended that subscribers consider buying shares of Skechers Usa-A on October 20th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.20. Since that recommendation, shares of Skechers Usa-A have risen 30.7%. We continue to monitor SKX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses skechers usa-a

Ticker(s): SKX