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Textron Bearish Moving Average Crossover Alert (TXT)

By Amy Schwartz

Textron (NYSE:TXT) crossed under its 10-day moving average of $39.53 on a volume of 1.0 million 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, Textron has traded in a range of $30.69 to $46.93 and is now at $38.45, 25% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of Textron on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.41. Since that recommendation, shares of Textron have risen 3.9%. We continue to monitor TXT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Textron

Ticker(s): TXT