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Flotek Industries Crosses Above its 10-day MA (FTK)

By Nick Russo

Flotek Industries (NYSE:FTK) crossed over its 10-day moving average of $13.75 on a volume of 126K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Flotek Industries has traded in a range of $4.90 to $21.72 and is now at $13.98, 185% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 3.2%.

SmarTrend recommended that subscribers consider buying shares of Flotek Industries on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.11. Since that recommendation, shares of Flotek Industries have risen 92.1%. We continue to monitor FTK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses flotek industries

Ticker(s): FTK