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Bearish Moving Average Cross by Puma Biotechnolo (PBYI)

By James Quinn

Today, shares of Puma Biotechnolo (NYSE:PBYI) have crossed bearishly below their 10-day moving average of $79.39 on a volume of 215K 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.

Over the past year, Puma Biotechnolo has traded in a range of $27.64 to $98.85 and is now at $79.19, 187% above that low. The 200-day and 50-day moving averages have moved 2.3% lower and 3.93% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Puma Biotechnolo on August 3rd, 2017 by issuing a Downtrend alert when the shares were trading at $85.43. Since that call, shares of Puma Biotechnolo have fallen 6.6%. 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