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Bullish Moving Average Cross by Cavium Networks (CAVM)

By Shiri Gupta

Today, shares of Cavium Networks (NASDAQ:CAVM) have crossed bullishly above their 10-day moving average of $47.06 on a volume of 124K 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, Cavium Networks share prices have been bracketed by a low of $44.71 and a high of $77.42 and are now at $48.29, 8% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cavium Networks on April 12th, 2016 by issuing a Downtrend alert when the shares were trading at $57.47. Since that call, shares of Cavium Networks have fallen 19.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Cavium Networks

Ticker(s): CAVM