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Bearish Moving Average Cross by Veeco Instruments (VECO)

By Nick Russo

Today, shares of Veeco Instruments (NASDAQ:VECO) have crossed bearishly below their 10-day moving average of $20.14 on a volume of 1.7 million 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 Veeco Instruments have traded between the current low of $17.22 and a high of $38.40 and are now at $17.80. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Veeco Instruments on July 1st, 2015 by issuing a Downtrend alert when the shares were trading at $28.80. Since that call, shares of Veeco Instruments have fallen 27.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Veeco Instruments

Ticker(s): VECO