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Endologix Bearish Moving Average Crossover Alert (ELGX)

By Nick Russo

Endologix (NASDAQ:ELGX) crossed under its 10-day moving average of $7.24 on a volume of 161K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Endologix have traded between a low of $4.78 and a high of $18.07 and are now at $7.13, which is 49% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 3.2%.

SmarTrend recommended that subscribers consider buying shares of Endologix on January 26th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.72. Since that recommendation, shares of Endologix have risen 10.4%. We continue to monitor ELGX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses endologix

Ticker(s): ELGX