New Oriental Education & Technology Bearish Moving Average Crossover Alert (EDU)
New Oriental Education & Technology (NYSE:EDU) shares have crossed bearishly below their 10-day moving average of $46.70 on a volume of 251K 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.
New Oriental Education & Technology share prices have moved between a 52-week high of $48.41 and a 52-week low of $18.09 and are now trading 155% above that low price at $46.05 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.7%.
SmarTrend recommended that subscribers consider buying shares of New Oriental Education & Technology on September 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.61. Since that recommendation, shares of New Oriental Education & Technology have risen 8.5%. We continue to monitor EDU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses new oriental education & technology