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TransCanada Bearish Moving Average Crossover Alert (TRP)

By Nick Russo

TransCanada (NYSE:TRP) shares have crossed bearishly below their 10-day moving average of $45.88 on a volume of 155K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of TransCanada have traded between a low of $28.40 and a high of $47.49 and are now at $45.69, which is 61% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of TransCanada on January 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.31. Since that recommendation, shares of TransCanada have risen 39.1%. We continue to monitor TRP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses transcanada

Ticker(s): TRP