Media General Crosses Below its 10-day MA (MEG)
Media General (NYSE:MEG) crossed under its 10-day moving average of $17.89 on a volume of 143K 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.
Over the past year, Media General has traded in a range of $9.74 to $18.18 and is now at $17.70, 82% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of Media General on September 28th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.73. Since that recommendation, shares of Media General have risen 31.2%. We continue to monitor MEG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses media general