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Bearish Moving Average Cross by Ligand Pharmaceuticals (LGND)

By David Diaz

Today, shares of Ligand Pharmaceuticals (NASDAQ:LGND) have fallen below their 10-day MA of $94.09 on a volume of 127K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Ligand Pharmaceuticals has traded in a range of $71.63 to $139.79 and is now at $93.99, 31% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has risen 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ligand Pharmaceuticals on September 27th, 2016 by issuing a Downtrend alert when the shares were trading at $103.24. Since that call, shares of Ligand Pharmaceuticals have fallen 7.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses ligand pharmaceuticals

Ticker(s): LGND