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Ellie Mae Inc Crosses Below its 10-day MA (ELLI)

By James Quinn

Ellie Mae Inc (NYSE:ELLI) shares have crossed bearishly below their 10-day moving average of $104.93 on a volume of 304K 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.

Ellie Mae Inc share prices have moved between a 52-week high of $116.90 and a 52-week low of $79.71 and are now trading 28% above that low price at $102.15 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for Ellie Mae Inc and will alert subscribers who have ELLI in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses ellie mae inc

Ticker(s): ELLI