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Bearish Moving Average Cross by Invitae Corp (NVTA)

By James Quinn

Today, shares of Invitae Corp (NYSE:NVTA) have crossed bearishly below their 10-day moving average of $25.43 on a volume of 361K 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, Invitae Corp share prices have been bracketed by a low of $9.04 and a high of $28.75 and are now at $24.68, 173% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 2.2%.

SmarTrend recommended that subscribers consider buying shares of Invitae Corp on June 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.85. Since that recommendation, shares of Invitae Corp have risen 17.2%. We continue to monitor NVTA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses invitae corp

Ticker(s): NVTA