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Seagate Technology Crosses Below its 10-day MA (STX)

By James Quinn

Seagate Technology (NASDAQ:STX) shares have crossed bearishly below their 10-day moving average of $31.74 on a volume of 6.3 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, shares of Seagate Technology have traded between a low of $18.42 and a high of $59.86 and are now at $31.07, which is 69% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 2.8%.

SmarTrend recommended that subscribers consider buying shares of Seagate Technology on May 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.10. Since that recommendation, shares of Seagate Technology have risen 46.7%. We continue to monitor STX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Seagate Technology

Ticker(s): STX