Bearish Moving Average Cross by Vanguard European ETF (VGK)
Vanguard European ETF (AMEX:VGK) shares have crossed bearishly below their 10-day moving average of $48.38 on a volume of 642K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Vanguard European ETF has traded in a range of $38.47 to $49.38 and is now at $48.26, 25% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
SmarTrend recommended that subscribers consider buying shares of Vanguard European ETF on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.56. Since that recommendation, shares of Vanguard European ETF have risen 5.0%. We continue to monitor VGK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses amex:vgk vanguard european etf