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Bullish Moving Average Cross by Randgold Resources (GOLD)

By James Quinn

Randgold Resources (NASDAQ:GOLD) shares have crossed bullishly above their 10-day moving average of $118.84 on a volume of 427K 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, Randgold Resources has traded in a range of $54.88 to $126.55 and is now at $120.03, 119% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Randgold Resources on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.46. Since that recommendation, shares of Randgold Resources have risen 29.2%. We continue to monitor GOLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Randgold Resources

Ticker(s): GOLD