Bearish Moving Average Cross by Maxim Integrated Products (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) crossed under its 10-day moving average of $40.76 on a volume of 349K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Maxim Integrated Products have traded between a low of $20.62 and a high of $42.37 and are now at $40.53, which is 97% above that low price. 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 July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.81. Since that recommendation, shares of Maxim Integrated Products have risen 8.4%. 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