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Bearish Moving Average Cross by Analog Devices (ADI)

By Shiri Gupta

Analog Devices (NYSE:ADI) shares have crossed bearishly below their 10-day moving average of $64.02 on a volume of 971K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Analog Devices share prices have moved between a 52-week high of $68.97 and a 52-week low of $47.24 and are now trading 35% above that low price at $63.63 per share. The 200-day and 50-day moving averages have moved 0.22% lower and 0.59% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Analog Devices on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.20. Since that recommendation, shares of Analog Devices have risen 11.5%. We continue to monitor ADI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Analog Devices

Ticker(s): ADI