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Bearish Moving Average Cross by Abaxis (ABAX)

By David Diaz

Today, shares of Abaxis (NASDAQ:ABAX) have crossed bearishly below their 10-day moving average of $52.93 on a volume of 244K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Abaxis has traded in a range of $37.71 to $58.15 and is now at $48.77, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of Abaxis on March 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.30. Since that recommendation, shares of Abaxis have risen 23.6%. We continue to monitor ABAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses abaxis

Ticker(s): ABAX