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Bearish Moving Average Cross by Summit Materia-A (SUM)

By Shiri Gupta

Summit Materia-A (NYSE:SUM) crossed under its 10-day moving average of $17.03 on a volume of 137K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Summit Materia-A share prices have been bracketed by a low of $11.25 and a high of $31.36 and are now at $16.87, 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 1.4%.

SmarTrend is tracking the current trend status for Summit Materia-A and will alert subscribers who have SUM in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses summit materia-a

Ticker(s): SUM