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Bearish Moving Average Cross by Tech Data Corp (TECD)

By Amy Schwartz

Tech Data Corp (NASDAQ:TECD) crossed under its 10-day moving average of $104.33 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 Tech Data Corp have traded between a low of $67.67 and a high of $111.10 and are now at $88.75, which is 31% above that low price. The 200-day and 50-day moving averages have moved 0.21% higher and 0.65% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Tech Data Corp on November 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $83.04. Since that recommendation, shares of Tech Data Corp have risen 32.8%. We continue to monitor TECD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses tech data corp

Ticker(s): TECD