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Bullish Moving Average Cross by Sotheby's (BID)

By Nick Russo

Sotheby's (NYSE:BID) shares have crossed bullishly above their 10-day moving average of $32.44 on a volume of 1.9 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.

Over the past year, Sotheby's has traded in a range of $18.86 to $47.28 and is now at $35.33, 87% above that low. The 200-day and 50-day moving averages have moved 1.08% lower and 1.04% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Sotheby's on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.10. Since that recommendation, shares of Sotheby's have risen 7.3%. We continue to monitor BID for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses sotheby's

Ticker(s): BID