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Bearish Moving Average Cross by ABIOMED (ABMD)

By Nick Russo

ABIOMED (NASDAQ:ABMD) crossed under its 10-day moving average of $140.57 on a volume of 203K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, ABIOMED share prices have been bracketed by a low of $59.04 and a high of $145.58 and are now at $135.90, 130% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of ABIOMED on February 17th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $114.56. Since that recommendation, shares of ABIOMED have risen 23.3%. We continue to monitor ABMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses abiomed

Ticker(s): ABMD