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Braskem Crosses Below its 10-day MA (BAK)

By Shiri Gupta

Braskem (NYSE:BAK) shares have crossed bearishly below their 10-day moving average of $20.53 on a volume of 664K 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.

In the past 52 weeks, shares of Braskem have traded between a low of $6.40 and a high of $23.15 and are now at $20.05, which is 213% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.6%.

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

Keywords: moving crosses Braskem

Ticker(s): BAK