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Canadian Solar Bullish Moving Average Crossover Alert (CSIQ)

By Nick Russo

Today, shares of Canadian Solar (NASDAQ:CSIQ) have crossed bullishly above their 10-day moving average of $13.30 on a volume of 528K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Canadian Solar share prices have been bracketed by a low of $12.12 and a high of $40.08 and are now at $13.46, 11% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Canadian Solar on June 13th, 2016 by issuing a Downtrend alert when the shares were trading at $16.11. Since that call, shares of Canadian Solar have fallen 19.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses canadian solar

Ticker(s): CSIQ