Arrow Electronics Bearish Moving Average Crossover Alert (ARW)
Today, shares of Arrow Electronics (NYSE: ARW) have crossed bearishly below their 10-day moving average of $27.12 on volume of 592 thousand 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. Watch for a close below this moving average level for confirmation.
SmarTrend issued a Downtrend Alert for Arrow Electronics on January 22, 2010 at $27.82. In approximately 2 weeks, Arrow Electronics has returned 5.5% as of today's recent price of $26.30.
We will continue to monitor ARW's share price relative to this moving average.
Write to Chip Brian at cbrian@tradethetrend.com
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