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Magna International Bullish Moving Average Crossover Alert (MGA)

By David Diaz

Magna International (NYSE:MGA) shares have crossed bullishly above their 10-day moving average of $42.50 on a volume of 266K shares. Swing traders may find 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 $42.64, which is 40% above that low price. 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 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 12.3%. 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

Ticker(s): MGA