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Biomarin Pharmac Bearish Moving Average Crossover Alert (BMRN)

By James Quinn

Biomarin Pharmac (NASDAQ:BMRN) crossed under its 10-day moving average of $88.55 on a volume of 1.5 million 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, Biomarin Pharmac share prices have been bracketed by a low of $75.81 and a high of $100.03 and are now at $84.79, 12% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Biomarin Pharmac on April 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $83.28. Since that recommendation, shares of Biomarin Pharmac have risen 7.3%. We continue to monitor BMRN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses biomarin pharmac

Ticker(s): BMRN