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Bullish Moving Average Cross by Alkermes (ALKS)

By James Quinn

Alkermes (NASDAQ:ALKS) crossed over its 10-day moving average of $49.45 on a volume of 341K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Alkermes has traded in a range of $27.14 to $80.71 and is now at $49.87, 84% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 1.1%.

SmarTrend recommended that subscribers consider buying shares of Alkermes on April 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.32. Since that recommendation, shares of Alkermes have risen 30.2%. We continue to monitor ALKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Alkermes

Ticker(s): ALKS