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Bearish Moving Average Cross by Sonoco Products (SON)

By Amy Schwartz

Sonoco Products (NYSE:SON) shares have crossed bearishly below their 10-day moving average of $62.03 on a volume of 249K 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, Sonoco Products has traded in a range of $49.71 to $62.96 and is now at $60.55, 22% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Sonoco Products and will alert subscribers who have SON in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses sonoco products

Ticker(s): SON