Sinclair Broadcast Group Bullish Moving Average Crossover Alert (SBGI)
Today, shares of Sinclair Broadcast Group (NASDAQ: SBGI) have crossed bullishly above their 10-day moving average of $5.34 on volume of 428 thousand shares.
This may provide swing traders with an opportunity for a long position as such a crossover often suggests higher prices in the near term. Watch for a close above this moving average level for confirmation.
SmarTrend issued an Uptrend Alert for Sinclair Broadcast Group on December 29, 2009 at $4.34. In approximately 2 months, Sinclair Broadcast Group has returned 24.4% as of today's recent price of $5.40.
We will continue to monitor SBGI's share price relative to this moving average.
Write to Chip Brian at cbrian@tradethetrend.com
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