Bearish Moving Average Cross by Ultimate Software (ULTI)
Today, shares of Ultimate Software (NASDAQ:ULTI) have crossed bearishly below their 10-day moving average of $217.72 on a volume of 233K 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, shares of Ultimate Software have traded between a low of $148.26 and a high of $224.07 and are now at $214.23, which is 44% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 1.26% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Ultimate Software on July 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $212.63. Since that recommendation, shares of Ultimate Software have risen 4.3%. We continue to monitor ULTI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses ultimate software