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Middleby Bullish Moving Average Crossover Alert (MIDD)

By James Quinn

Today, shares of Middleby (NASDAQ:MIDD) have crossed bullishly above their 10-day moving average of $109.46 on a volume of 214K 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.

Middleby share prices have moved between a 52-week high of $125.31 and a 52-week low of $70.55 and are now trading 62% above that low price at $114.03 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of Middleby on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $89.08. Since that recommendation, shares of Middleby have risen 22.6%. We continue to monitor MIDD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses middleby

Ticker(s): MIDD