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Fomento Economico Mexicano Crosses Above its 10-day MA (FMX)

By Nick Russo

Fomento Economico Mexicano (NYSE:FMX) shares have crossed bullishly above their 10-day moving average of $88.15 on a volume of 147K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Fomento Economico Mexicano share prices have moved between a 52-week high of $102.72 and a 52-week low of $77.47 and are now trading 14% above that low price at $88.33 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Fomento Economico Mexicano on August 25th, 2016 by issuing a Downtrend alert when the shares were trading at $95.89. Since that call, shares of Fomento Economico Mexicano have fallen 8.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses fomento economico mexicano

Ticker(s): FMX