Royal Gold Bearish Moving Average Crossover Alert (RGLD)
Today, shares of Royal Gold (NASDAQ: RGLD) have crossed bearishly below their 10-day moving average of $43.85 on volume of 371 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 Royal Gold on December 17, 2009 at $48.17. In approximately 2 months, Royal Gold has returned 10.9% as of today's recent price of $42.94.
We will continue to monitor RGLD's share price relative to this moving average.
Write to Chip Brian at cbrian@tradethetrend.com
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