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SPDR KBW Bank ETF Crosses Below its 10-day MA (KBE)

By James Quinn

Today, shares of SPDR KBW Bank ETF (AMEX:KBE) have crossed bearishly below their 10-day moving average of $33.25 on a volume of 816K 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.

SPDR KBW Bank ETF share prices have moved between a 52-week high of $37.28 and a 52-week low of $26.28 and are now trading 26% above that low price at $33.01 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of SPDR KBW Bank ETF on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.90. Since that recommendation, shares of SPDR KBW Bank ETF have risen 4.9%. We continue to monitor KBE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:kbe spdr kbw bank etf

Ticker(s): KBE