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ProLogis Bearish Moving Average Crossover Alert (PLD)

By David Diaz

ProLogis (NYSE:PLD) shares have crossed bearishly below their 10-day moving average of $47.21 on a volume of 540K 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.

In the past 52 weeks, ProLogis share prices have been bracketed by a low of $35.25 and a high of $48.20 and are now at $46.92, 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of ProLogis on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.93. Since that recommendation, shares of ProLogis have risen 22.0%. We continue to monitor PLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ProLogis

Ticker(s): PLD