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Michaels Cos Inc Bearish Moving Average Crossover Alert (MIK)

By Nick Russo

Michaels Cos Inc (NASDAQ:MIK) crossed under its 10-day moving average of $20.25 on a volume of 256K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Michaels Cos Inc share prices have moved between a 52-week high of $29.75 and a 52-week low of $17.25 and are now trading 16% above that low price at $20.04 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Michaels Cos Inc and will alert subscribers who have MIK in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses michaels cos inc

Ticker(s): MIK