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Bullish Moving Average Cross by Omnicom Group (OMC)

By Nick Russo

Today, shares of Omnicom Group (NYSE:OMC) have crossed bullishly above their 10-day moving average of $83.31 on a volume of 135K 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, Omnicom Group share prices have been bracketed by a low of $64.12 and a high of $84.29 and are now at $83.50, 30% above that low price. The 200-day and 50-day moving averages have moved 0.30% higher and 1.38% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Omnicom Group on February 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $74.56. Since that recommendation, shares of Omnicom Group have risen 11.2%. We continue to monitor OMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Omnicom Group

Ticker(s): OMC