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Cinemark Holding Crosses Below its 10-day MA (CNK)

By Amy Schwartz

Cinemark Holding (NYSE:CNK) shares have crossed bearishly below their 10-day moving average of $38.13 on a volume of 284K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Cinemark Holding has traded in a range of $32.03 to $44.84 and is now at $37.55, 17% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cinemark Holding on March 15th, 2018 by issuing a Downtrend alert when the shares were trading at $39.90. Since that call, shares of Cinemark Holding have fallen 3.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses cinemark holding

Ticker(s): CNK