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Bearish Moving Average Cross by BioMarin Pharmaceutical (BMRN)

By James Quinn

Today, shares of BioMarin Pharmaceutical (NASDAQ:BMRN) have fallen below their 10-day MA of $90.21 on a volume of 346K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, BioMarin Pharmaceutical share prices have been bracketed by a low of $62.12 and a high of $151.75 and are now at $89.20, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 1.2%.

SmarTrend is tracking the current trend status for BioMarin Pharmaceutical and will alert subscribers who have BMRN in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses biomarin pharmaceutical

Ticker(s): BMRN