Cirrus Logic Bearish Moving Average Crossover Alert (CRUS)
Cirrus Logic (NASDAQ:CRUS) shares have crossed bearishly below their 10-day moving average of $37.00 on a volume of 205K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Cirrus Logic share prices have been bracketed by a low of $24.56 and a high of $38.48 and are now at $36.66, 49% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.
SmarTrend recommended that subscribers consider buying shares of Cirrus Logic on May 24th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.32. Since that recommendation, shares of Cirrus Logic have risen 5.8%. We continue to monitor CRUS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses cirrus logic