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

By Nick Russo

Commercial Metals (NYSE:CMC) shares have crossed bearishly below their 10-day moving average of $17.08 on a volume of 995K 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, Commercial Metals has traded in a range of $12.44 to $18.50 and is now at $16.64, 34% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.

SmarTrend is tracking the current trend status for Commercial Metals and will alert subscribers who have CMC in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses commercial metals

Ticker(s): CMC