Loews Bearish Moving Average Crossover Alert (L)
Loews (NYSE:L) crossed under its 10-day moving average of $40.32 on a volume of 106K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Loews has traded in a range of $33.84 to $41.96 and is now at $39.90, 18% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Loews on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.58. Since that recommendation, shares of Loews have risen 10.8%. We continue to monitor L for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses loews