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Bullish Moving Average Cross by Iridium Communic (IRDM)

By David Diaz

Today, shares of Iridium Communic (NASDAQ:IRDM) have crossed bullishly above their 10-day moving average of $20.24 on a volume of 218K 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.

In the past 52 weeks, shares of Iridium Communic have traded between a low of $6.80 and a high of $21.55 and are now at $20.70, which is 204% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Iridium Communic on May 24th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.13. Since that recommendation, shares of Iridium Communic have risen 53.1%. We continue to monitor IRDM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses iridium communic

Ticker(s): IRDM