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Steelcase Inc-A Bearish Moving Average Crossover Alert (SCS)

By Shiri Gupta

Today, shares of Steelcase Inc-A (NYSE:SCS) have fallen below their 10-day MA of $15.02 on a volume of 426K 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.

Over the past year, Steelcase Inc-A has traded in a range of $12.50 to $17.08 and is now at $14.12, 13% above that low. The 200-day and 50-day moving averages have moved 0.22% higher and 0.67% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Steelcase Inc-A on June 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.72. Since that recommendation, shares of Steelcase Inc-A have risen 5.6%. We continue to monitor SCS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses steelcase inc-a

Ticker(s): SCS