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Bearish Moving Average Cross by Keryx Biopharmaceuticals (KERX)

By Amy Schwartz

Keryx Biopharmaceuticals (NASDAQ:KERX) shares have crossed bearishly below their 10-day moving average of $7.19 on a volume of 5.9 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Keryx Biopharmaceuticals has traded in a range of $2.80 to $14.89 and is now at $5.12, 83% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has advanced 3.4%.

SmarTrend recommended that subscribers consider buying shares of Keryx Biopharmaceuticals on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.49. Since that recommendation, shares of Keryx Biopharmaceuticals have risen 64.1%. We continue to monitor KERX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses keryx biopharmaceuticals

Ticker(s): KERX