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Michaels Cos Inc Crosses Above its 10-day MA (MIK)

By David Diaz

Michaels Cos Inc (NASDAQ:MIK) crossed over its 10-day moving average of $5.55 on a volume of 491K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Michaels Cos Inc share prices have been bracketed by a low of $5.00 and a high of $22.15 and are now at $5.67, 13% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 2.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Michaels Cos Inc on January 30th, 2019 by issuing a Downtrend alert when the shares were trading at $14.00. Since that call, shares of Michaels Cos Inc have fallen 61.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses michaels cos inc

Ticker(s): MIK