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Bullish Moving Average Cross by Ambarella Inc (AMBA)

By James Quinn

Today, shares of Ambarella Inc (NASDAQ:AMBA) have crossed bullishly above their 10-day moving average of $64.62 on a volume of 123K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Ambarella Inc share prices have moved between a 52-week high of $67.15 and a 52-week low of $30.00 and are now trading 116% above that low price at $64.82 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.3% while the 200-day MA has risen 1.9%.

SmarTrend recommended that subscribers consider buying shares of Ambarella Inc on August 30th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.47. Since that recommendation, shares of Ambarella Inc have risen 16.3%. We continue to monitor AMBA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ambarella inc

Ticker(s): AMBA