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State Street Bearish Moving Average Crossover Alert (STT)

By Amy Schwartz

State Street (NYSE:STT) shares have crossed bearishly below their 10-day moving average of $70.24 on a volume of 298K 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.

Over the past year, State Street has traded in a range of $50.60 to $81.26 and is now at $69.28, 37% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of State Street on July 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.10. Since that recommendation, shares of State Street have risen 13.8%. We continue to monitor STT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses State Street

Ticker(s): STT