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HDFC Bank Bullish Moving Average Crossover Alert (HDB)

By Nick Russo

HDFC Bank (NYSE:HDB) shares have crossed bullishly above their 10-day moving average of $65.11 on a volume of 313K 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.

In the past 52 weeks, shares of HDFC Bank have traded between a low of $51.11 and a high of $66.58 and are now at $65.38, which is 28% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of HDFC Bank on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.49. Since that recommendation, shares of HDFC Bank have risen 14.8%. We continue to monitor HDB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses hdfc bank

Ticker(s): HDB