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MBIA Crosses Above its 10-day MA (MBI)

By David Diaz

Today, shares of MBIA (NYSE:MBI) have crossed bullishly above their 10-day moving average of $8.21 on a volume of 916K 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 MBIA have traded between a low of $4.94 and a high of $11.65 and are now at $8.62, which is 74% above that low price. The 200-day and 50-day moving averages have moved 0.50% higher and 1.19% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of MBIA on February 8th, 2017 by issuing a Downtrend alert when the shares were trading at $10.25. Since that call, shares of MBIA have fallen 21.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses mbia

Ticker(s): MBI