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Bearish Moving Average Cross by Perrigo (PRGO)

By Shiri Gupta

Today, shares of Perrigo (NASDAQ:PRGO) have fallen below their 10-day MA of $88.37 on a volume of 162K 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 Perrigo have traded between a low of $82.50 and a high of $200.96 and are now at $88.10, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.9% while the 200-day MA has slid 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Perrigo on June 24th, 2016 by issuing a Downtrend alert when the shares were trading at $92.51. Since that call, shares of Perrigo have fallen 4.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Perrigo

Ticker(s): PRGO