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Bullish Moving Average Cross by StatoilHydro (STO)

By Shiri Gupta

StatoilHydro (NYSE:STO) crossed over its 10-day moving average of $16.54 on a volume of 987K 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, shares of StatoilHydro have traded between a low of $10.89 and a high of $21.72 and are now at $16.75, which is 54% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

SmarTrend is tracking the current trend status for StatoilHydro and will alert subscribers who have STO in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses statoilhydro

Ticker(s): STO