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Energy Transfer Equity Bearish Moving Average Crossover Alert (ETE)

By Nick Russo

Today, shares of Energy Transfer Equity (NYSE:ETE) have crossed bearishly below their 10-day moving average of $11.85 on a volume of 4.2 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Energy Transfer Equity share prices have been bracketed by a low of $4.00 and a high of $35.44 and are now at $11.62, 191% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.2% while the 200-day MA has slid 1.8%.

SmarTrend recommended that subscribers consider buying shares of Energy Transfer Equity on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.47. Since that recommendation, shares of Energy Transfer Equity have risen 87.3%. We continue to monitor ETE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses energy transfer equity

Ticker(s): ETE