Kennametal Crosses Below its 10-day MA (KMT)
Kennametal (NYSE:KMT) shares have crossed bearishly below their 10-day moving average of $41.78 on a volume of 781K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Kennametal has traded in a range of $30.65 to $47.82 and is now at $41.39, 35% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Kennametal on December 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.40. Since that recommendation, shares of Kennametal have risen 12.2%. We continue to monitor KMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses kennametal