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Manhattan Associates Crosses Below its 10-day MA (MANH)

By Shiri Gupta

Manhattan Associates (NASDAQ:MANH) crossed under its 10-day moving average of $57.01 on a volume of 1.4 million 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.

Manhattan Associates share prices have moved between a 52-week high of $126.27 and a 52-week low of $28.24 and are now trading 90% above that low price at $53.65 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Manhattan Associates on June 24th, 2016 by issuing a Downtrend alert when the shares were trading at $62.46. Since that call, shares of Manhattan Associates have fallen 5.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses manhattan associates

Ticker(s): MANH