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Allergan Bearish Moving Average Crossover Alert (AGN)

By Nick Russo

Today, shares of Allergan (NYSE:AGN) have crossed bearishly below their 10-day moving average of $223.03 on a volume of 921K 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, shares of Allergan have traded between a low of $212.67 and a high of $340.34 and are now at $221.37, which is 4% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Allergan on March 17th, 2016 by issuing a Downtrend alert when the shares were trading at $270.84. Since that call, shares of Allergan have fallen 17.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Allergan

Ticker(s): AGN