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Scotts Miracle-Gro Crosses Below its 10-day MA (SMG)

By Shiri Gupta

Today, shares of Scotts Miracle-Gro (NYSE:SMG) have crossed bearishly below their 10-day moving average of $71.33 on a volume of 239K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Scotts Miracle-Gro has traded in a range of $58.11 to $75.13 and is now at $69.07, 19% above that low. The 200-day and 50-day moving averages have moved 0.26% higher and 0.43% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Scotts Miracle-Gro on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.93. Since that recommendation, shares of Scotts Miracle-Gro have risen 8.2%. We continue to monitor SMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses scotts miracle-gro

Ticker(s): SMG