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

By David Diaz

Today, shares of Michaels Cos Inc (NASDAQ:MIK) have fallen below their 10-day MA of $12.76 on a volume of 140K 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.

In the past 52 weeks, Michaels Cos Inc share prices have been bracketed by a low of $10.90 and a high of $22.15 and are now at $12.52, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.8%.

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