Stocks Crossing 50-Day SMA 07/09: (BAC) (CNC) (APC) Above; (MSFT) (AONE) (CEDC) Below
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The following is a list of stocks crossing the 50-day simple moving average (SMA) and are either above or below the metric. The 50-day is considered an indicator of a potential near-term trend formation.
Crossing and above:
Crossing and above:
- Bank of America (NYSE: BAC) - down 0.7 percent. BofA, along with other financials, has been on an up-and-down ride since Greek elections in May as disclosure of a large loss by JPMorgan (NYSE: JPM). Shares have been trading within a $7.50 to $8 range over the last month.
- Centene Corp. (NYSE: CNC) - up 19.6 percent. Centene making a strong move higher following the Wellpoint (NYSE: WLP)/Amerigroup (NYSE: AGP) deal. Having been pressured since earnings in April and the healthcare bill last month, the stocks jump puts it above the 50-day today.
- Anadarko Petroleum Corp. (NYSE: APC) - up 0.8 percent. Anadarko getting a little boost from a positive Barron's article over the weekend. Notably, shares have been flirting with the 50-day over the last couple session, indicating some complacency with the $65 level.
- LinkedIn Corp. (NYSE: LNKD) - down 5.2 percent. Dipping lower Monday following word that Facebook (Nasdaq: FB) would be launching a job board later this year.
- MasterCard (NYSE: MA) - down 3.5 percent. UBS added some pressure to MasterCard on Monday, downgrading the stock from Neutral to Sell. The move is causing MasterCard to break out of a largely upward trend.
- Microsoft Corp. (Nasdaq: MSFT) - down 1.1 percent. Microsoft is lower amid announcing the acquisition of Perceptive Pixel and setting an October 2012 date for the release of Windows 8 at its Digital Worldwide Developers Conference today.
- Central European Distribution (Nasdaq: CEDC) - down 25.2 percent. Earlier, Central European Distribution entered an amended agreement with Russian Standard Corp for an expanded alliance.
Shares popped, but have settled below the 50-day SMA.
- A123 Systems (Nasdaq: AONE) - down 8.6 percent. A123 moving lower again after announcing it had entered into a 7.7 million common stock direct offering at $1.30 per share last Friday, causing the stock to drop about 10.8 percent.
- Kinross Gold Corp. (NYSE: KGC) - down 1.1 percent. Along with broader metals pressure today, Deutsche Bank cut its price target on Kinross from $16.50 down to $14.50. Shares have been moving between the $8 and $9 level since early May.
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