Bearish Moving Average Cross by Tesoro (TSO)
Tesoro (NYSE:TSO) shares have crossed bearishly below their 10-day moving average of $75.91 on a volume of 386K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Tesoro has traded in a range of $67.80 to $119.67 and is now at $74.47, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of Tesoro on March 31st, 2016 by issuing a Downtrend alert when the shares were trading at $85.13. Since that call, shares of Tesoro have fallen 10.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Tesoro