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Bearish Moving Average Cross by Universal Forest (UFPI)

By James Quinn

Universal Forest (NASDAQ:UFPI) shares have crossed bearishly below their 10-day moving average of $37.71 on a volume of 454K 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 Universal Forest have traded between a low of $31.16 and a high of $342.84 and are now at $35.39, which is 14% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 4.4% while the 50-day MA has advanced 0.9%.

SmarTrend is tracking the current trend status for Universal Forest and will alert subscribers who have UFPI in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses universal forest

Ticker(s): UFPI