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Bearish Moving Average Cross by Alkermes (ALKS)

By Nick Russo

Alkermes (NASDAQ:ALKS) crossed under its 10-day moving average of $39.37 on a volume of 278K 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, Alkermes share prices have been bracketed by a low of $27.14 and a high of $80.71 and are now at $38.95, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 1.1%.

SmarTrend recommended that subscribers consider buying shares of Alkermes on April 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.32. Since that recommendation, shares of Alkermes have risen 6.5%. We continue to monitor ALKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Alkermes

Ticker(s): ALKS