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Nordic American Tanker Shipping Crosses Below its 10-day MA (NAT)

By Shiri Gupta

Today, shares of Nordic American Tanker Shipping (NYSE:NAT) have fallen below their 10-day MA of $7.17 on a volume of 428K 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.

Nordic American Tanker Shipping share prices have moved between a 52-week high of $17.45 and a 52-week low of $6.51 and are now trading 8% above that low price at $7.00 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Nordic American Tanker Shipping on February 24th, 2017 by issuing a Downtrend alert when the shares were trading at $8.10. Since that call, shares of Nordic American Tanker Shipping have fallen 10.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses nordic american tanker shipping

Ticker(s): NAT