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Bullish Moving Average Cross by Seagate Technology (STX)

By James Quinn

Today, shares of Seagate Technology (NASDAQ:STX) have crossed bullishly above their 10-day moving average of $24.21 on a volume of 12.7 million 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.

Seagate Technology share prices have moved between a 52-week high of $59.86 and a 52-week low of $18.42 and are now trading 56% above that low price at $28.74 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has slid 1.5%.

SmarTrend recommended that subscribers consider buying shares of Seagate Technology on May 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.10. Since that recommendation, shares of Seagate Technology have risen 9.0%. We continue to monitor STX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Seagate Technology

Ticker(s): STX