Bearish Moving Average Cross by VeriSign (VRSN)
VeriSign (NASDAQ:VRSN) crossed under its 10-day moving average of $84.89 on a volume of 124K 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.
In the past 52 weeks, shares of VeriSign have traded between a low of $61.31 and a high of $93.94 and are now at $84.63, which is 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.5%.
SmarTrend recommended that subscribers consider buying shares of VeriSign on February 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.75. Since that recommendation, shares of VeriSign have risen 8.1%. We continue to monitor VRSN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses verisign