GlaxoSmithKline Bearish Moving Average Crossover Alert (GSK)
GlaxoSmithKline (NYSE:GSK) crossed under its 10-day moving average of $42.75 on a volume of 860K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
GlaxoSmithKline share prices have moved between a 52-week high of $46.76 and a 52-week low of $37.24 and are now trading 14% above that low price at $42.34 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of GlaxoSmithKline on March 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.74. Since that recommendation, shares of GlaxoSmithKline have risen 5.6%. We continue to monitor GSK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses GlaxoSmithKline