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Magna International Bearish Moving Average Crossover Alert (MGA)

By Nick Russo

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

Ticker(s): MGA