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Bearish Moving Average Cross by Staples (SPLS)

By David Diaz

Today, shares of Staples (NASDAQ:SPLS) have fallen below their 10-day MA of $10.13 on a volume of 34.6 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Staples share prices have moved between a 52-week high of $16.84 and a 52-week low of $8.03 and are now trading 6% above that low price at $8.55 per share. The 200-day and 50-day moving averages have moved 0.79% lower and 0.73% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Staples on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.60. Since that recommendation, shares of Staples have risen 7.9%. We continue to monitor SPLS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Staples

Ticker(s): SPLS