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Bullish Moving Average Cross by Acuity Brands (AYI)

By David Diaz

Today, shares of Acuity Brands (NYSE:AYI) have crossed bullishly above their 10-day moving average of $130.18 on a volume of 119K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Acuity Brands share prices have moved between a 52-week high of $280.89 and a 52-week low of $119.02 and are now trading 10% above that low price at $130.60 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Acuity Brands on January 31st, 2018 by issuing a Downtrend alert when the shares were trading at $156.56. Since that call, shares of Acuity Brands have fallen 17.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses acuity brands

Ticker(s): AYI