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Bullish Moving Average Cross by Signature Bank (SBNY)

By James Quinn

Signature Bank (NASDAQ:SBNY) shares have crossed bullishly above their 10-day moving average of $117.67 on a volume of 119K 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.

In the past 52 weeks, shares of Signature Bank have traded between a low of $114.36 and a high of $163.15 and are now at $117.79, which is 3% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Signature Bank on July 20th, 2016 by issuing a Downtrend alert when the shares were trading at $122.04. Since that call, shares of Signature Bank have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses signature bank

Ticker(s): SBNY