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Western Refining Bearish Moving Average Crossover Alert (WNR)

By David Diaz

Western Refining (NYSE:WNR) crossed under its 10-day moving average of $23.76 on a volume of 467K 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, Western Refining has traded in a range of $18.14 to $50.71 and is now at $23.49, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 1.3%.

SmarTrend recommended that subscribers consider buying shares of Western Refining on August 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.22. Since that recommendation, shares of Western Refining have risen 7.6%. We continue to monitor WNR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses western refining

Ticker(s): WNR