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Bearish Moving Average Cross by New Jersey Res (NJR)

By Nick Russo

New Jersey Res (NYSE:NJR) crossed under its 10-day moving average of $30.37 on a volume of 106K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, New Jersey Res has traded in a range of $21.14 to $51.20 and is now at $29.04, 37% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 3.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of New Jersey Res on January 8th, 2020 by issuing a Downtrend alert when the shares were trading at $42.54. Since that call, shares of New Jersey Res have fallen 26.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses new jersey res

Ticker(s): NJR