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Magna International Bullish Moving Average Crossover Alert (MGA)

Written on Fri, 03/12/2010 - 3:27pm
By Chip Brian

Today, shares of Magna International (NYSE:MGA) have crossed bullishly above their 10-day moving average of $58.11 on volume of 162 thousand 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. Watch for a close above this moving average level for confirmation.
SmarTrend issued an Uptrend Alert for Magna International on November 06, 2009 at $48.30. In approximately 4 months, Magna International has returned 20.1% as of today's recent price of $58.03.
We will continue to monitor MGA's share price relative to this moving average.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): MGA

Contact Chip Brian



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