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Bullish Moving Average Cross by ABIOMED (ABMD)

By David Diaz

ABIOMED (NASDAQ:ABMD) shares have crossed bullishly above their 10-day moving average of $101.71 on a volume of 150K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of ABIOMED have traded between a low of $59.04 and a high of $110.68 and are now at $103.06, which is 75% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of ABIOMED on March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.30. Since that recommendation, shares of ABIOMED have risen 20.1%. We continue to monitor ABMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses abiomed

Ticker(s): ABMD