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Bullish Moving Average Cross by Varian Medical Systems (VAR)

By Shiri Gupta

Varian Medical Systems (NYSE:VAR) shares have crossed bullishly above their 10-day moving average of $99.22 on a volume of 174K 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, Varian Medical Systems has traded in a range of $71.07 to $100.42 and is now at $100.13, 41% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Varian Medical Systems on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.57. Since that recommendation, shares of Varian Medical Systems have risen 17.1%. We continue to monitor VAR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Varian Medical Systems

Ticker(s): VAR