Bullish Moving Average Cross by Penske Auto Group

March 07, 2011

Today, shares of Penske Auto Group (NYSE:PAG) have advanced above their 10-day MA of $20.41 on a volume of 109K shares. This may provide short-term investors a chance for a long position as such a crossover often suggests higher prices in the near term. Watch for Penske Auto Group's close above this MA level for confirmation.In the past 52 weeks, Penske Auto Group share prices have been bracketed by a low of $10.89 and a high of $22.10 and are now at $20.55, 89% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.86% while the 50-day MA has advanced 1.67%.