Bearish Moving Average Cross by StatoilHydro (STO)
Today, shares of StatoilHydro (NYSE:STO) have fallen below their 10-day MA of $17.10 on a volume of 1.0 million 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.
In the past 52 weeks, shares of StatoilHydro have traded between a low of $10.89 and a high of $21.72 and are now at $16.84, which is 55% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.
SmarTrend recommended that subscribers consider buying shares of StatoilHydro on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.24. Since that recommendation, shares of StatoilHydro have risen 31.4%. We continue to monitor STO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses statoilhydro