• Return to Headlines

Bearish Moving Average Cross by PerkinElmer (PKI)

By James Quinn

Today, shares of PerkinElmer (NYSE:PKI) have crossed bearishly below their 10-day moving average of $62.14 on a volume of 170K 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, PerkinElmer share prices have been bracketed by a low of $39.50 and a high of $62.92 and are now at $61.98, 57% 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 remained constant.

SmarTrend recommended that subscribers consider buying shares of PerkinElmer on December 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.81. Since that recommendation, shares of PerkinElmer have risen 16.2%. We continue to monitor PKI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses perkinelmer

Ticker(s): PKI