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

By Nick Russo

Commercial Metals (NYSE:CMC) crossed under its 10-day moving average of $17.33 on a volume of 333K 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 Metals have traded between a low of $12.44 and a high of $18.50 and are now at $17.21, which is 38% above that low price. 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 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