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Akorn Crosses Below its 10-day MA (AKRX)

By Shiri Gupta

Akorn (NASDAQ:AKRX) shares have crossed bearishly below their 10-day moving average of $33.17 on a volume of 268K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Akorn share prices have been bracketed by a low of $17.57 and a high of $48.53 and are now at $32.79, 87% above that low price. The 200-day and 50-day moving averages have moved 1.28% lower and 0.17% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Akorn on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.15. Since that recommendation, shares of Akorn have risen 8.5%. 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