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Akorn Crosses Above its 10-day MA (AKRX)

By Nick Russo

Akorn (NASDAQ:AKRX) shares have crossed bullishly above their 10-day moving average of $30.18 on a volume of 260K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Akorn has traded in a range of $17.57 to $48.53 and is now at $30.29, 72% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 1.3%.

SmarTrend recommended that subscribers consider buying shares of Akorn on May 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.62. Since that recommendation, shares of Akorn have risen 8.2%. We continue to monitor AKRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses akorn

Ticker(s): AKRX