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POSCO Crosses Below its 10-day MA (PKX)

By Nick Russo

POSCO (NYSE:PKX) shares have crossed bearishly below their 10-day moving average of $43.76 on a volume of 146K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, POSCO share prices have been bracketed by a low of $30.97 and a high of $61.95 and are now at $43.46, 40% above that low price. The 200-day and 50-day moving averages have moved 0.26% higher and 1.40% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of POSCO on May 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $49.77. Since that call, shares of POSCO have fallen 11.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses posco

Ticker(s): PKX