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Bullish Moving Average Cross by Goldcorp (GG)

By Shiri Gupta

Goldcorp (NYSE:GG) shares have crossed bullishly above their 10-day moving average of $16.07 on a volume of 3.1 million 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, Goldcorp share prices have been bracketed by a low of $9.46 and a high of $20.38 and are now at $16.19, 71% above that low price. The 200-day and 50-day moving averages have moved 0.70% higher and 1.72% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Goldcorp on August 24th, 2016 by issuing a Downtrend alert when the shares were trading at $16.69. Since that call, shares of Goldcorp have fallen 4.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Goldcorp

Ticker(s): GG