Bearish Moving Average Cross by Ebix (EBIX)
Ebix (NASDAQ:EBIX) shares have crossed bearishly below their 10-day moving average of $52.93 on a volume of 220K 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.
Over the past year, Ebix has traded in a range of $19.78 to $55.00 and is now at $52.78, 167% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has risen 1.1%.
SmarTrend recommended that subscribers consider buying shares of Ebix on January 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.03. Since that recommendation, shares of Ebix have risen 65.9%. We continue to monitor EBIX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses