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Bullish Moving Average Cross by Gildan Activewear (GIL)

By James Quinn

Today, shares of Gildan Activewear (NYSE:GIL) have crossed bullishly above their 10-day moving average of $31.05 on a volume of 536K 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.

In the past 52 weeks, Gildan Activewear share prices have been bracketed by a low of $22.43 and a high of $35.15 and are now at $31.46, 40% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Gildan Activewear on March 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.69. Since that recommendation, shares of Gildan Activewear have risen 5.2%. We continue to monitor GIL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses gildan activewear

Ticker(s): GIL