Bearish Moving Average Cross by Alkermes (ALKS)
Alkermes (NASDAQ:ALKS) crossed under its 10-day moving average of $44.94 on a volume of 157K 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 Alkermes have traded between a low of $27.14 and a high of $80.71 and are now at $44.78, which is 65% 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 20.7%. We continue to monitor ALKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Alkermes