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Commercial Metal Crosses Below its 10-day MA (CMC)

By Nick Russo

Commercial Metal (NYSE:CMC) crossed under its 10-day moving average of $20.96 on a volume of 329K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Commercial Metal have traded between a low of $17.58 and a high of $26.72 and are now at $20.85, which is 19% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Commercial Metal on June 25th, 2018 by issuing a Downtrend alert when the shares were trading at $22.24. Since that call, shares of Commercial Metal have fallen 5.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses commercial metal

Ticker(s): CMC