Methode Electronics Bearish Moving Average Crossover Alert (MEI)
Methode Electronics (NYSE:MEI) crossed under its 10-day moving average of $34.93 on a volume of 113K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Methode Electronics share prices have moved between a 52-week high of $49.00 and a 52-week low of $22.67 and are now trading 53% above that low price at $34.77 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.
SmarTrend recommended that subscribers consider buying shares of Methode Electronics on April 19th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.30. Since that recommendation, shares of Methode Electronics have risen 20.6%. We continue to monitor MEI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses methode electronics