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Bearish Moving Average Cross by Maxim Integrated Products (MXIM)

By Shiri Gupta

Today, shares of Maxim Integrated Products (NASDAQ:MXIM) have crossed bearishly below their 10-day moving average of $35.99 on a volume of 425K 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, Maxim Integrated Products has traded in a range of $20.62 to $42.18 and is now at $35.69, 73% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Maxim Integrated Products on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.99. Since that recommendation, shares of Maxim Integrated Products have risen 7.0%. We continue to monitor MXIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses maxim integrated products

Ticker(s): MXIM