Magna International Bearish Moving Average Crossover Alert (MGA)
Today, shares of Magna International (NYSE:MGA) have fallen below their 10-day MA of $40.81 on a volume of 210K 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.
Magna International share prices have moved between a 52-week high of $59.42 and a 52-week low of $30.41 and are now trading 33% above that low price at $40.47 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.2%.
SmarTrend is tracking the current trend status for Magna International and will alert subscribers who have MGA in their portfolio or watchlist when shares have changed trend direction.
Keywords: moving crosses Magna International