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Central Fund of Canada Bullish Moving Average Crossover Alert (CEF)

By Shiri Gupta

Today, shares of Central Fund of Canada (AMEX:CEF) have crossed bullishly above their 10-day moving average of $12.54 on a volume of 420K 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, Central Fund of Canada share prices have been bracketed by a low of $9.84 and a high of $13.35 and are now at $12.79, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Central Fund of Canada on February 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.05. Since that recommendation, shares of Central Fund of Canada have risen 12.5%. We continue to monitor CEF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:cef central fund of canada

Ticker(s): CEF