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Bearish Moving Average Cross by State Street (STT)

By Shiri Gupta

Today, shares of State Street (NYSE:STT) have crossed bearishly below their 10-day moving average of $70.01 on a volume of 859K 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.

State Street share prices have moved between a 52-week high of $81.26 and a 52-week low of $50.60 and are now trading 37% above that low price at $69.19 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of State Street on July 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.10. Since that recommendation, shares of State Street have risen 14.2%. We continue to monitor STT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses State Street

Ticker(s): STT