Sunoco Logistics Partners Bearish Moving Average Crossover Alert (SXL)
Today, shares of Sunoco Logistics Partners (NYSE:SXL) have crossed bearishly below their 10-day moving average of $30.05 on a volume of 184K 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.
In the past 52 weeks, Sunoco Logistics Partners share prices have been bracketed by a low of $15.43 and a high of $44.90 and are now at $29.64, 92% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 2.0%.
SmarTrend recommended that subscribers consider buying shares of Sunoco Logistics Partners on April 19th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.51. Since that recommendation, shares of Sunoco Logistics Partners have risen 10.2%. We continue to monitor SXL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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