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

By David Diaz

Commercial Metals (NYSE:CMC) shares have crossed bearishly below their 10-day moving average of $18.97 on a volume of 385K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Commercial Metals share prices have moved between a 52-week high of $24.64 and a 52-week low of $12.44 and are now trading 51% above that low price at $18.80 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Commercial Metals. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Commercial Metals in search of a potential trend change.

Keywords: moving crosses commercial metals

Ticker(s): CMC