Today, shares of General Cable (NYSE:BGC) have fallen below their 10-day MA of $35.81 on a volume of 158K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
General Cable Corporation designs, develops, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the communications, electrical, and energy markets. The Company operates around the world.
General Cable has overhead space with shares priced $35.68, or 2.2% below the average consensus analyst price target of $36.50. The stock should find initial support at its 50-day moving average (MA) of $33.84 and further support at its 200-day MA of $29.83.
General Cable share prices have moved between a 52-week high of $36.71 and a 52-week low of $23.73 and are now trading 50% above that low price at $35.68 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.7%.