SBA Communications Bearish Moving Average Crossover Alert (SBAC)
Today, shares of SBA Communications (NASDAQ:SBAC) have crossed bearishly below their 10-day moving average of $103.40 on a volume of 2.0 million 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, SBA Communications share prices have been bracketed by a low of $82.80 and a high of $128.47 and are now at $98.93, 19% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of SBA Communications on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $92.38. Since that recommendation, shares of SBA Communications have risen 13.9%. We continue to monitor SBAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses SBA Communications