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Diageo Bearish Moving Average Crossover Alert (DEO)

By Nick Russo

Diageo (NYSE:DEO) crossed under its 10-day moving average of $116.20 on a volume of 244K 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 $114.81, 15% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.3%.

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 7.6%. We continue to monitor DEO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses diageo

Ticker(s): DEO