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E*Trade Financial Crosses Below its 10-day MA (ETFC)

By James Quinn

E*Trade Financial (NASDAQ:ETFC) crossed under its 10-day moving average of $27.36 on a volume of 1.7 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, E*Trade Financial share prices have been bracketed by a low of $19.61 and a high of $31.48 and are now at $26.28, 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of E*Trade Financial on April 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.06. Since that recommendation, shares of E*Trade Financial have risen 7.9%. We continue to monitor ETFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses e*trade financial

Ticker(s): ETFC