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Skechers Usa-A Bearish Moving Average Crossover Alert (SKX)

By Amy Schwartz

Skechers Usa-A (NYSE:SKX) crossed under its 10-day moving average of $28.61 on a volume of 448K 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, Skechers Usa-A has traded in a range of $18.81 to $32.71 and is now at $28.43, 51% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of Skechers Usa-A on June 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.99. Since that recommendation, shares of Skechers Usa-A have risen 6.5%. We continue to monitor SKX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses skechers usa-a

Ticker(s): SKX