Bearish Moving Average Cross by Cirrus Logic (CRUS)
Today, shares of Cirrus Logic (NASDAQ:CRUS) have crossed bearishly below their 10-day moving average of $53.48 on a volume of 318K 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, Cirrus Logic share prices have been bracketed by a low of $24.56 and a high of $58.08 and are now at $52.04, 112% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.
SmarTrend recommended that subscribers consider buying shares of Cirrus Logic on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.63. Since that recommendation, shares of Cirrus Logic have risen 36.5%. We continue to monitor CRUS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses cirrus logic