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Bullish Moving Average Cross by Braskem (BAK)

By David Diaz

Today, shares of Braskem (NYSE:BAK) have advanced above their 10-day MA of $11.50 on a volume of 188K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Braskem has traded in a range of $6.40 to $15.58 and is now at $11.71, 83% above that low. The 200-day and 50-day moving averages have moved 1.01% higher and 0.56% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Braskem. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Braskem in search of a potential trend change.

Keywords: moving crosses Braskem

Ticker(s): BAK