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Silver Standard Resources Crosses Above its 10-day MA (SSRI)

By Nick Russo

Today, shares of Silver Standard Resources (NASDAQ:SSRI) have advanced above their 10-day MA of $8.89 on a volume of 1.4 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Silver Standard Resources share prices have been bracketed by a low of $3.66 and a high of $9.61 and are now at $9.32, 155% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.8% while the 200-day MA has risen 1.0%.

SmarTrend recommended that subscribers consider buying shares of Silver Standard Resources on April 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.71. Since that recommendation, shares of Silver Standard Resources have risen 30.8%. We continue to monitor SSRI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses silver standard resources

Ticker(s): SSRI