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Cia Paranaense de Energia Crosses Below its 10-day MA (ELP)

By Nick Russo

Today, shares of Cia Paranaense de Energia (NYSE:ELP) have fallen below their 10-day MA of $10.18 on a volume of 131K 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.

Over the past year, Cia Paranaense de Energia has traded in a range of $4.22 to $11.68 and is now at $10.03, 138% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has slid 0.8%.

SmarTrend recommended that subscribers consider buying shares of Cia Paranaense de Energia on June 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.87. Since that recommendation, shares of Cia Paranaense de Energia have risen 32.0%. We continue to monitor ELP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses cia paranaense de energia

Ticker(s): ELP