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Canadian Pacific Railway Crosses Below its 10-day MA (CP)

By Nick Russo

Today, shares of Canadian Pacific Railway (NYSE:CP) have crossed bearishly below their 10-day moving average of $132.51 on a volume of 221K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Canadian Pacific Railway share prices have been bracketed by a low of $97.09 and a high of $197.59 and are now at $131.28, 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Canadian Pacific Railway on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $139.67. Since that call, shares of Canadian Pacific Railway 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 canadian pacific railway

Ticker(s): CP