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PacWest Bancorp Bearish Moving Average Crossover Alert (PACW)

By James Quinn

PacWest Bancorp (NASDAQ:PACW) shares have crossed bearishly below their 10-day moving average of $47.29 on a volume of 166K 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.

Over the past year, PacWest Bancorp has traded in a range of $29.05 to $57.53 and is now at $46.60, 60% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of PacWest Bancorp on March 21st, 2017 by issuing a Downtrend alert when the shares were trading at $52.90. Since that call, shares of PacWest Bancorp 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 pacwest bancorp

Ticker(s): PACW