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Bearish Moving Average Cross by Puma Biotechnolo (PBYI)

By Shiri Gupta

Today, shares of Puma Biotechnolo (NASDAQ:PBYI) have crossed bearishly below their 10-day moving average of $51.79 on a volume of 118K 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, Puma Biotechnolo share prices have been bracketed by a low of $50.15 and a high of $136.90 and are now at $50.90, 1% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.7% while the 200-day MA has slid 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Puma Biotechnolo on March 27th, 2018 by issuing a Downtrend alert when the shares were trading at $67.72. Since that call, shares of Puma Biotechnolo have fallen 23.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses puma biotechnolo

Ticker(s): PBYI