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The moving averages track the previous price action in a stock. In this case, the 200-day moving average compiles the average share price of the last 200 trading days.
Perspective:
Price above the average is perceived as positive while price below the average is negative.
Currently, BP, DE, DVN, PNC, ING have broken below this level as a support line. Traders will look to see if an increase in volume confirms the break, which could send shares lower.
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