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Sinclair Broadcast Group Bearish Moving Average Crossover Alert (SBGI)

By Shiri Gupta

Today, shares of Sinclair Broadcast Group (NASDAQ:SBGI) have crossed bearishly below their 10-day moving average of $33.32 on a volume of 143K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Sinclair Broadcast Group share prices have been bracketed by a low of $24.04 and a high of $43.05 and are now at $32.90, 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Sinclair Broadcast Group on April 13th, 2017 by issuing a Downtrend alert when the shares were trading at $38.95. Since that call, shares of Sinclair Broadcast Group have fallen 13.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses sinclair broadcast group

Ticker(s): SBGI