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Bearish Moving Average Cross by SL Green Realty (SLG)

By James Quinn

Today, shares of SL Green Realty (NYSE:SLG) have fallen below their 10-day MA of $105.46 on a volume of 176K 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, SL Green Realty share prices have been bracketed by a low of $80.12 and a high of $124.96 and are now at $105.12, 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of SL Green Realty on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $89.20. Since that recommendation, shares of SL Green Realty have risen 19.3%. We continue to monitor SLG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses sl green realty

Ticker(s): SLG