Bearish Moving Average Cross by ABIOMED (ABMD)
Today, shares of ABIOMED (NASDAQ:ABMD) have fallen below their 10-day MA of $102.67 on a volume of 150K 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.
ABIOMED share prices have moved between a 52-week high of $110.68 and a 52-week low of $59.04 and are now trading 70% above that low price at $100.64 per share. 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 March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.30. Since that recommendation, shares of ABIOMED have risen 22.3%. We continue to monitor ABMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses abiomed