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Bearish Moving Average Cross by Fabrinet (FN)

By Shiri Gupta

Today, shares of Fabrinet (NYSE:FN) have crossed bearishly below their 10-day moving average of $53.33 on a volume of 756K 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, Fabrinet share prices have been bracketed by a low of $40.94 and a high of $62.31 and are now at $49.14, 20% above that low price. The 200-day and 50-day moving averages have moved 0.36% higher and 1.08% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Fabrinet. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fabrinet in search of a potential trend change.

Keywords: moving crosses fabrinet

Ticker(s): FN