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Bearish Moving Average Cross by SM Energy (SM)

By Amy Schwartz

SM Energy (NYSE:SM) shares have crossed bearishly below their 10-day moving average of $26.25 on a volume of 539K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, SM Energy has traded in a range of $6.99 to $60.28 and is now at $26.04, 273% above that low. The 200-day and 50-day moving averages have moved 0.53% lower and 9.04% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of SM Energy on June 13th, 2016 by issuing a Downtrend alert when the shares were trading at $28.99. Since that call, shares of SM Energy have fallen 6.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses sm energy

Ticker(s): SM