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Bearish Moving Average Cross by Perrigo Co Plc (PRGO)

By Amy Schwartz

Perrigo Co Plc (NYSE:PRGO) crossed under its 10-day moving average of $49.61 on a volume of 147K 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.

Perrigo Co Plc share prices have moved between a 52-week high of $80.66 and a 52-week low of $36.28 and are now trading 34% above that low price at $48.78 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Perrigo Co Plc on January 31st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.73. Since that recommendation, shares of Perrigo Co Plc have risen 7.8%. We continue to monitor PRGO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses perrigo co plc

Ticker(s): PRGO