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Bearish Moving Average Cross by Citrix Systems (CTXS)

By Shiri Gupta

Citrix Systems (NASDAQ:CTXS) shares have crossed bearishly below their 10-day moving average of $82.36 on a volume of 174K 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.

Citrix Systems share prices have moved between a 52-week high of $90.00 and a 52-week low of $60.91 and are now trading 34% above that low price at $81.70 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Citrix Systems on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.82. Since that recommendation, shares of Citrix Systems have risen 22.0%. We continue to monitor CTXS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Citrix Systems

Ticker(s): CTXS