Diageo Bearish Moving Average Crossover Alert (DEO)
Diageo (NYSE:DEO) crossed under its 10-day moving average of $115.34 on a volume of 129K 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, Diageo has traded in a range of $99.59 to $122.23 and is now at $114.79, 15% above that low. The 200-day and 50-day moving averages have moved 0.22% lower and 0.32% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Diageo on June 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $108.15. Since that recommendation, shares of Diageo have risen 6.9%. We continue to monitor DEO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses diageo