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Bearish Moving Average Cross by Skechers U.S.A. (SKX)

By Nick Russo

Today, shares of Skechers U.S.A. (NYSE:SKX) have crossed bearishly below their 10-day moving average of $22.32 on a volume of 549K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Skechers U.S.A. share prices have been bracketed by a low of $20.90 and a high of $54.53 and are now at $22.12, 6% above that low price. 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 its subscribers protect gains by selling shares of Skechers U.S.A. on July 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $23.34. Since that call, shares of Skechers U.S.A. have fallen 3.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses skechers u.s.a.

Ticker(s): SKX