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Bullish Moving Average Cross by Summit Materia-A (SUM)

By Nick Russo

Today, shares of Summit Materia-A (NYSE:SUM) have crossed bullishly above their 10-day moving average of $19.44 on a volume of 389K 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 Summit Materia-A have traded between a low of $18.47 and a high of $33147.66 and are now at $19.58, which is 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.1% while the 200-day MA has slid 41.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Summit Materia-A on December 7th, 2017 by issuing a Downtrend alert when the shares were trading at $30.76. Since that call, shares of Summit Materia-A have fallen 37.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses summit materia-a

Ticker(s): SUM