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Bullish Moving Average Cross by Depomed Inc (DEPO)

By Nick Russo

Depomed Inc (NASDAQ:DEPO) shares have crossed bullishly above their 10-day moving average of $6.79 on a volume of 131K 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.

Over the past year, Depomed Inc has traded in a range of $4.31 to $27.02 and is now at $6.90, 60% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 1.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Depomed Inc on February 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $7.12. Since that call, shares of Depomed Inc have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses depomed inc

Ticker(s): DEPO