Ultrapar Participacoes Crosses Below its 10-day MA (UGP)
Today, shares of Ultrapar Participacoes (NYSE:UGP) have crossed bearishly below their 10-day moving average of $22.71 on a volume of 172K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Ultrapar Participacoes has traded in a range of $12.93 to $24.53 and is now at $21.93, 70% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.0%.
SmarTrend recommended that subscribers consider buying shares of Ultrapar Participacoes on June 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.06. Since that recommendation, shares of Ultrapar Participacoes have risen 9.0%. We continue to monitor UGP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses ultrapar participacoes