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Bearish Moving Average Cross by Amicus Therapeutics (FOLD)

By James Quinn

Amicus Therapeutics (NASDAQ:FOLD) crossed under its 10-day moving average of $7.35 on a volume of 551K 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.

Over the past year, Amicus Therapeutics has traded in a range of $4.41 to $18.83 and is now at $7.25, 64% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Amicus Therapeutics on January 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.89. Since that recommendation, shares of Amicus Therapeutics have risen 28.2%. We continue to monitor FOLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amicus therapeutics

Ticker(s): FOLD