• Return to Headlines

Sonic Bearish Moving Average Crossover Alert (SONC)

By Amy Schwartz

Today, shares of Sonic (NASDAQ:SONC) have crossed bearishly below their 10-day moving average of $29.33 on a volume of 250K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Sonic share prices have moved between a 52-week high of $36.34 and a 52-week low of $21.12 and are now trading 36% above that low price at $28.64 per share. The 200-day and 50-day moving averages have moved 0.38% higher and 1.54% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Sonic on April 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.63. Since that recommendation, shares of Sonic have risen 14.9%. We continue to monitor SONC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Sonic

Ticker(s): SONC