Magna International Bullish Moving Average Crossover Alert (MGA)
Magna International (NYSE:MGA) crossed over its 10-day moving average of $40.36 on a volume of 249K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, shares of Magna International have traded between a low of $30.41 and a high of $59.42 and are now at $40.53, which is 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.2%.
SmarTrend recommended that subscribers consider buying shares of Magna International on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.61. Since that recommendation, shares of Magna International have risen 7.0%. We continue to monitor MGA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Magna International