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Ingram Micro Crosses Above its 10-day MA (IM)

By Shiri Gupta

Today, shares of Ingram Micro (NYSE:IM) have crossed bullishly above their 10-day moving average of $33.75 on a volume of 327K 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 Ingram Micro have traded between a low of $23.70 and a high of $36.66 and are now at $33.90, which is 43% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has declined 0.3%.

SmarTrend recommended that subscribers consider buying shares of Ingram Micro on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.85. Since that recommendation, shares of Ingram Micro have risen 11.1%. We continue to monitor IM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ingram micro

Ticker(s): IM