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Allergan Bearish Moving Average Crossover Alert (AGN)

By Shiri Gupta

Today, shares of Allergan (NYSE:AGN) have crossed bearishly below their 10-day moving average of $238.75 on a volume of 198K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Allergan has traded in a range of $184.50 to $340.34 and is now at $238.45, 29% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 2.1%.

SmarTrend recommended that subscribers consider buying shares of Allergan on December 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $200.85. Since that recommendation, shares of Allergan have risen 19.0%. We continue to monitor AGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Allergan

Ticker(s): AGN