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Rayonier Crosses Below its 10-day MA (RYN)

By Shiri Gupta

Rayonier (NYSE:RYN) shares have crossed bearishly below their 10-day moving average of $28.72 on a volume of 1.3 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Rayonier share prices have moved between a 52-week high of $29.86 and a 52-week low of $17.85 and are now trading 56% above that low price at $27.80 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Rayonier on October 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.92. Since that recommendation, shares of Rayonier have risen 7.3%. We continue to monitor RYN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses rayonier

Ticker(s): RYN