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Benefitfocus Inc Crosses Below its 10-day MA (BNFT)

By Shiri Gupta

Benefitfocus Inc (NASDAQ:BNFT) shares have crossed bearishly below their 10-day moving average of $34.38 on a volume of 653K 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, Benefitfocus Inc has traded in a range of $21.75 to $37.10 and is now at $33.55, 54% above that low. The 200-day and 50-day moving averages have moved 0.04% higher and 2.27% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Benefitfocus Inc on March 22nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.68. Since that recommendation, shares of Benefitfocus Inc have risen 32.1%. We continue to monitor BNFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses benefitfocus inc

Ticker(s): BNFT