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Bearish Moving Average Cross by Amicus Therapeutics (FOLD)

By Nick Russo

Today, shares of Amicus Therapeutics (NASDAQ:FOLD) have fallen below their 10-day MA of $8.29 on a volume of 488K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Amicus Therapeutics share prices have moved between a 52-week high of $18.83 and a 52-week low of $4.41 and are now trading 84% above that low price at $8.12 per share. 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 43.6%. 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