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Cinemark Crosses Above its 10-day MA (CNK)

By Nick Russo

Cinemark (NYSE:CNK) shares have crossed bullishly above their 10-day moving average of $33.91 on a volume of 214K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Cinemark share prices have been bracketed by a low of $26.56 and a high of $43.05 and are now at $34.12, 28% above that low price. The 200-day and 50-day moving averages have moved 0.34% lower and 1.06% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Cinemark on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $34.19. Since that call, shares of Cinemark have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses cinemark

Ticker(s): CNK