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Herman Miller Crosses Below its 10-day MA (MLHR)

By Shiri Gupta

Herman Miller (NASDAQ:MLHR) shares have crossed bearishly below their 10-day moving average of $34.94 on a volume of 131K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Herman Miller have traded between a low of $18.23 and a high of $36.46 and are now at $32.98, which is 81% above that low price. The 200-day and 50-day moving averages have moved 0.08% higher and 1.30% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Herman Miller on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.05. Since that recommendation, shares of Herman Miller have risen 13.6%. We continue to monitor MLHR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses herman miller

Ticker(s): MLHR