Bearish Moving Average Cross by Yahoo! (YHOO)
Yahoo! (NASDAQ:YHOO) shares have crossed bearishly below their 10-day moving average of $36.93 on a volume of 2.9 million 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, Yahoo! share prices have been bracketed by a low of $26.15 and a high of $45.07 and are now at $36.70, 40% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.2%.
SmarTrend recommended that subscribers consider buying shares of Yahoo! on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.36. Since that recommendation, shares of Yahoo! have risen 26.5%. We continue to monitor YHOO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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