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Ritchie Bros Auctioneers Bullish Moving Average Crossover Alert (RBA)

By David Diaz

Today, shares of Ritchie Bros Auctioneers (NYSE:RBA) have crossed bullishly above their 10-day moving average of $28.88 on a volume of 196K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Ritchie Bros Auctioneers share prices have been bracketed by a low of $21.03 and a high of $30.85 and are now at $29.16, 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Ritchie Bros Auctioneers on February 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.24. Since that recommendation, shares of Ritchie Bros Auctioneers have risen 23.5%. We continue to monitor RBA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ritchie bros auctioneers

Ticker(s): RBA