SPX Bearish Moving Average Crossover Alert (SPW)

Published on Wed, 03/04/2015 - 13:52
By Robert Cotter in Moving average crossovers, SPW, moving crosses, nyse:spw, spx

SPX (NYSE:SPW) shares have crossed bearishly below their 10-day moving average of $88.54 on a volume of 156K 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.

SPX Corporation is a global provider of technical products and systems, industrial products and services, service solutions, and vehicle components. The Company designs, manufactures, and markets data networking equipment, fire detection equipment, power transformers, TV and radio broadcast equipment, and a variety of specialty tools, equipment, and services.

SPX share prices have moved between a 52-week high of $111.47 and a 52-week low of $77.30 and are now trading 14% above that low price at $88.28 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.2%.

Potential upside of 6.3% exists for SPX, based on a current level of $88.28 and analysts' average consensus price target of $93.80. The stock should find resistance at its 200-day moving average (MA) of $95.42, as well as support at its 50-day MA of $85.57.

By Robert Cotter
rcotter@fnno.com

Latest News from FNNO

Recent 52-Week High Exceeded in Shares o...

Shares of Silicon Laboratories (NASDAQ:SLAB) traded today at $53.19, breaking its 52-we ...

Sigma-Aldrich: The Winning Streak Contin...

Sigma-Aldrich (NASDAQ:SIAL) traded at a new 52-week high today of $139.15. This new hi ...

SEI Investments Looks to Continue to Tra...

SEI Investments (NASDAQ:SEIC) traded today at a new 52-week high of $44.80. This new h ...

Service International: 52-Week High Rece...

Shares of Service International (NYSE:SCI) traded today at $27.24, breaking its 52-week ...

Recent 52-Week High Exceeded in Shares o...

Shares of Radian (NYSE:RDN) traded at a new 52-week high today of $18.16. Approximatel ...

Quantum: The Winning Streak Continues (Q...

Shares of Quantum (NYSE:QTM) traded today at $2.06, breaking its 52-week high. This ne ...

Paramount Gold and Silver: The Winning S...

Shares of Paramount Gold and Silver (NYSE:PZG) traded today at $1.85, breaking its 52-w ...

Watch for Continued Gains in Shares of P...

Shares of PetMed Express (NASDAQ:PETS) traded today at $17.05, breaking its 52-week hig ...