Pride International Bearish Moving Average Crossover Alert (PDE)
Today, shares of Pride International (NYSE: PDE) have crossed bearishly below their 10-day moving average of $28.37 on volume of 689 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 Pride International on January 22, 2010 at $30.53. In approximately 1 month, Pride International has returned 8% as of today's recent price of $28.09.
We will continue to monitor PDE's share price relative to this moving average.
Write to Chip Brian at cbrian@tradethetrend.com
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