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Western Refining Crosses Below its 10-day MA (WNR)

By Amy Schwartz

Western Refining (NYSE:WNR) shares have crossed bearishly below their 10-day moving average of $20.36 on a volume of 671K 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, Western Refining share prices have been bracketed by a low of $18.14 and a high of $50.71 and are now at $20.24, 12% above that low price. 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 its subscribers protect gains by selling shares of Western Refining on April 15th, 2016 by issuing a Downtrend alert when the shares were trading at $26.97. Since that call, shares of Western Refining have fallen 23.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses western refining

Ticker(s): WNR