Leggett & Platt Crosses Below its 10-day MA (LEG)
Leggett & Platt (NYSE:LEG) shares have crossed bearishly below their 10-day moving average of $45.73 on a volume of 282K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Leggett & Platt share prices have moved between a 52-week high of $54.62 and a 52-week low of $36.64 and are now trading 24% above that low price at $45.38 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.
SmarTrend recommended that its subscribers protect gains by selling shares of Leggett & Platt on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $50.58. Since that call, shares of Leggett & Platt have fallen 9.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses leggett & platt