Bullish Moving Average Cross by Alon USA Energy (ALJ)
Alon USA Energy (NYSE:ALJ) shares have crossed bullishly above their 10-day moving average of $6.33 on a volume of 349K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Over the past year, Alon USA Energy has traded in a range of $5.86 to $23.29 and is now at $6.53, 11% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of Alon USA Energy on May 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $9.96. Since that call, shares of Alon USA Energy have fallen 37.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses alon usa energy