Eagle Materials Crosses Below its 10-day MA (EXP)
Eagle Materials (NYSE:EXP) shares have crossed bearishly below their 10-day moving average of $64.55 on a volume of 410K 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 Eagle Materials have traded between a low of $28.77 and a high of $67.42 and are now at $64.12, which is 123% above that low price. The 200-day and 50-day moving averages have moved 1.11% higher and 1.31% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Eagle Materials on December 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.89. Since that recommendation, shares of Eagle Materials have risen 17.7%. We continue to monitor EXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses eagle materials