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Bullish Moving Average Cross by Supervalu Inc (SVU)

By Shiri Gupta

Supervalu Inc (NYSE:SVU) shares have crossed bullishly above their 10-day moving average of $15.14 on a volume of 1.4 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, Supervalu Inc has traded in a range of $2.90 to $26.51 and is now at $15.28, 427% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Supervalu Inc on February 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $15.25. Since that call, shares of Supervalu Inc have fallen 4.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses supervalu inc

Ticker(s): SVU